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	Friday March 22, 2002	iOTC   			
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[IMAGE]		      [IMAGE] [IMAGE]      In This Issue [IMAGE]      [IMAGE]     [IMAGE]    Current Oil and Gas Industry News T! op Stories for the Past 7 Days Featured Events and Conferences What's in Store - Books & More     Featured Employment Opportunities Surplus Oilfield Equipment For Sale Worldwide Offshore Rig Utilization Oil & Gas Prices    [IMAGE]   [IMAGE]       Industry Headlines [IMAGE]      [IMAGE]       OPEC Went Over Production Limit in February  OPEC members pumped 779,000 barrels per day above agreed limits in February.  Ocean Rig Sells Two Baredecks to Noble Drilling  Ocean Rig has agreed to sell its two baredeck hulls to Noble Drilling for US $45 million.    [IMAGE]   [IMAGE]    Landmark Graphics Releases SpecDecomp   Landmark Graphics Corporation has released SpecDecomp(TM), a new, innovative reservoir imaging and interpretation technology solution. SpecDecomp provides greater resolution of reservoir boundaries, heterogeneities and thickness than previously possible with traditional broadband seismic displays.  For more information click here .          Exploration [IMAGE]      [IMAGE]     [IMAGE]  Santos' Norfolk-1 Well Could Be Big  The Norfolk wildcat oil well off the coast of Western Australia could hold up to 70 million barrels ! of oil.  4D Seismic Survey Begins Offshore New Zealand  4D Seismic work will begin shortly on the Maui gas field offshore New Zealand.  Saudi Aramco Makes Discovery in Eastern Saudi Arabia  Saudi Aramco has found oil and gas in three wells in the kingdom's eastern province.  Dana Increases UK Portfolio  Dana Petroleum is exchanging UK North Sea assets with Agip.    [IMAGE]   [IMAGE]       Pr! oduction [IMAGE]      [IMAGE]     [IMAGE]  Petrobras Sees Rise in February Output  Brazil's average daily oil production totaled 1.48 million barrels in February.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Duke Energy Acquires ChevronTexaco Assets  Duke Energy Field Services has signed agreements to acquire ChevronTexaco's 33.3 percent-ownership interest in Discovery Producer Services, LLC.  Cooper Cameron Enters Into New Revolving Credit Agreement   Cooper Cameron Corporation has entered into a Revolving Credit Agreement with a syndicate of relationship banks led by Bank One, NA.  Unit Corporation Acquires Twenty Drilling Rigs   Unit Corporation has reached an agreement with a privately-held company to acquire twenty drilling rigs and related equipment for 7.5 million shares of Unit Corporation common stock.  Ensco Enhances Ri! g Fleet Communications System  Ensco International will soon begin to install a new communications system onboard all of its Gulf of Mexico jackup rigs.  TotalFinaElf Increases Stake in Oseberg  TotalFinaElf has signed an agreement with the Norwegian authorities to increase its interests in the Oseberg fields in the Norwegian North Sea.    [IMAGE]   [IMAGE]       Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Halliburton May Divide Into Separate Business Units  Halliburton Co. may separate into two independent subsidiaries by midyear.  Murphy Awards Front Runner Contract  Murphy  has awarded a contract to J. Ray McDermott to construct a Floating Production System for the Fro! nt Runner Project.  Hugo Chavez Could Order Army to Run PDVSA  Venezuelan President Hugo Chavez said on Sunday he would order the armed forces to take over PDVSA if protesting executives and employees tried to halt the company's operations through a strike action.  Rowan Gorilla V Contract Dispute is Resolved  Rowan Companies, Inc. reported that an agreement has been reached to resolve a dispute over the Rowan Gorilla V contract.  Noble Drilling Purchases Two Semisubmersibles  Noble Drilling has agreed to purchase two semisubmersible drilling rigs, the Transocean 96 and Transocean 97 for $31 million in cash.  Kerr-McGee Increases 2002 Budget by 15%  Kerr-McGee Corp. has increased its ! capital budget for exploration and production development projects by 15%, or $120 million, to approximately $900 million.  Brazil To Fund New Exploration Research  ANP has over $430 million designated for research in Brazil, including the gathering of geological data and seismic prospecting which is normally handled by Petrobras.  Kerr-McGee Scores with Navajo   Kerr-McGee Corp. announced three oil and gas discoveries on separate fault blocks at the Navajo field in its core East Breaks area of the deepwater Gulf of Mexico.  Santos To Acquire Esenjay Exploration  Santos and Esenjay Exploration have entered into a definitive merger agreement.  Spinnaker Higher Bidder of 40 GOM Blocks  ! Spinnaker participated in a total of 56 bid submissions, second most by industry for OCS Sale #182.  PanCanadian and AEC Get Green Light  AEC and PanCanadian announced that the waiting period under the Hart-Scott-Rodino Antitrust Act ended on March 18, 2002, without inquiry by the U.S. Federal Trade Commission or the U.S. Department of Justice.  Unocal Adds to GOM Acreage  Unocal was apparent high bidder for interests in 18 blocks in the Central Gulf of Mexico OCS Lease Sale No. 182.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]        [IMAGE]       [IMAGE]  Apr. 2     e-Business in the E?Industry - Targeting the Value  Houston Apr. 7     CORROSION/2002  Denver Apr. 8     Weatherman's Classic Charity Golf Tournament  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston May. 1     Nigeria Oil & Gas 2002  London May. 6     Offshore Technology Conference 2002  Houston May. 13    Introduction to the Petroleum Industry  Houston May. 21    Oil and Gas in the Gulf of Guinea  London Jun. 23    Ocean Mechanics and Arctic Engineering 2002  Oslo Aug. 27    ONS 2002 Conference and Exhibition  Stavanger  list your conference  view upcoming events   [IMAGE]   [IMAGE]   [IMAGE]    [IMAGE] [IMAGE]  Click here to go to Baker Hughes  AADE  Horizon Offshore  HoverDril   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  The Management of International Oil Operations  [IMAGE] [IMAGE]  Rules-of-Thumb for the Man on the Rig  [IMAGE] [IMAGE]  Introduction to Marine Engineering 2nd Edition  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: Wartsila Generator Sets  [IMAGE]   4 1/2-inch 19.2 Lbs Pipe  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Maintenance Superintendent  - I/E Technician  - Operations Superintendent   more hot jobs >>   featured candidates:  - Sales Engineer  - M.S. Student in Petroleum Engineering  - Management - Operator & Service Company   search for candidates >>   [IMAGE]   [IMAGE]      [IMAGE]      [IMAGE]   Drillships:  To 5000':   57.1% (8/14) +5000':   96.0% (24/25)  Semisubs:  2nd Gen:   62.5% (45/72) 3rd Gen:   86.0% (43/50) 4th Gen:   94.7% (36/38) 5th Gen:   85.7% (6/7)  Jackups:  T! o 200':   56.1%  (37/66) 200' MC:   45.8% (11/24) 200' MS:   19.0% (4/21) 300' IC:   88.5% (85/96) +300' IC:   94.4% (51/54) Severe Env.:   81.0% (17/21)  [IMAGE]        [IMAGE]        view complete utilization report           [IMAGE] [IMAGE]  Light Crude Oil:  $25.55/BBL  (2.61%) Brent Crude Oil:  $25.42/BBL  (3.08%) Natural Gas:  $3.37/MMBtu  (9.42%) Unleaded Gasoline:  $0.82/gal  (1.23%) prices from:  3/21/2002 change since: 3/20/2002   [IMAGE]   [IMAGE]    [IMAGE]   	[IMAGE]		
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