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	Friday
December 28, 2001	Petrocom <http://www.petrocom.com/> 		
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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

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Industry Headlines	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Pemex Encounters Natural Gas Development Oppositon  <http://www.rigzone.com/news/article.asp?a_id=2284>
Pemex runs into opposition on plans to raise the foriegn investment capital needed to for natural gas development plans

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Repsol Offshore Exploratory Licenses Too close to Morrocco <http://www.rigzone.com/news/article.asp?a_id=2285>
Morocco has denounced Spain's violation of the country's maritime territory after Madrid distributed offshore oil prospection licenses for the Canary Islands in Moroccan controlled seas. 

BP Awards Caspian Geophysical a Marine Seismic Contract <http://www.rigzone.com/news/article.asp?a_id=2270>
BP has awarded Caspian Geophysical a major marine seismic contract offshore Azerbaijan

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Gullfaks Turns 15 <http://www.rigzone.com/news/article.asp?a_id=2273>
December 22nd marks the 15th anniversary of the Gullfaks development in the North Sea.

Phillips Gets Go-Ahead for Bayu-Undan Development Project <http://www.rigzone.com/news/article.asp?a_id=2272>
Phillips Petroleum receives approval from the East Timor Council of Ministers to proceed on the development of the Bayu-Undan gas project.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Delta Petroleum to Buy Piper Petroleum <http://www.rigzone.com/news/article.asp?a_id=2288>
Delta Petroleum Corporation, an independent energy exploration and devel! opment company, has entered into an agreement to purchase Piper Petroleum Company, a privately owned oil and gas company headquartered in Fort Worth, Texas.

Vector Energy Announces Second Quarter Results  <http://www.rigzone.com/news/article.asp?a_id=2287>
Vector Energy Corporation announced today the results of the second quarter ended Oct. 31, 2001

Kinder Morgan Buys Tejas <http://www.rigzone.com/news/article.asp?a_id=2286>
Kinder Morgan Energy Partners LP of Houston entered into an agreement to purchase Tejas Gas LLC for approximately $750 million in cash. 

Nexen Sets Next Years Budget  <http://www.rigzone.com/news/article.asp?a_id=2283>
Nexen's new capital budget is 1.24 billion dollars. About $240 million is scheduled for worldwide exploaration projects.

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A National-Oilwell designed, 1992 built modular offshore drilling rig is available for sale direct from the manufacturer. This rig drilled only 5 wells from the Draugen platform in the Norwegian sector of the North Sea. Click on the link below for full details, photos and seller contact information: 

<http://www.rigzone.com/market/surplus_listing.asp?eq_id=397> 

	

Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Petrobras Acquires 75% Stake in Block OPL324 Offshore Nigeria <http://www.rigzone.com/n! ews/article.asp?a_id=2262>
Petrobras has inked a deal for a 30-year contract on block OPL324 offshore Nigeria. The company would have a 75% interest in the block and serve as operator.

Shell Awards Landmark E&P Data Contract <http://www.rigzone.com/news/article.asp?a_id=2260>
Landmark has been awarded a three-year E&P data management contract by Shell. Landmark will manage over two terabytes of seismic data using the PetroBank system.

Oman to Cut Production by 40,000 bpd <http://www.rigzone.com/news/article.asp?a_id=2257>
Oman pledges to cut an additional 15,000 bpd bringing its total production cut to 40,000 bpd.

Conoco Acquires Additional Interests Offshore Vietnam <http://www.rigzone.com/news/article.asp?a_id=2263>
Conoco Inc. announced its agreement with Statoil ASA to purchase a portion of its interests in the $1.3 billion Na! m Con Son natural gas project, offshore Vietnam.

Stena Don Heads to Work <http://www.rigzone.com/news/article.asp?a_id=2268>
Statoil has taken delivery of the Stena Don. The newbuild semisubmersible will drill its first well on the Staer prospect offshore Norway.

Repsol, British Gas and TotalFinaElf to Explore Offshore Argentina <http://www.rigzone.com/news/article.asp?a_id=2271>
Repsol and British Gas have been joined by TotalFinaElf to explore offshore Southern Argentina.

Patterson/UTI Energy, Inc Buys Clere Drilling Company Assets <http://www.rigzone.com/news/article.asp?a_id=2281>
PATTERSON-UTI ENERGY, INC. the second-largest operator of land-based oil and natural gas drilling rigs in North America, today announced the acquisition of 17 land-based drilling rigs from Cleere Drilling Company 

Gazprom To Borrow $100 Billion Rubles to Finance Exploration <http://www.rigzone.com/news/article.asp?a_id=2258>
Gazprom is seeking to borrow $100 billion rubles to finance exploration and increase natural gas output in 2002.

ENI and NNPC Form Exploration Joint Venture <http://www.rigzone.com/news/article.asp?a_id=2261>
ENI and Nigerian National Petroleum Corp. and formed an alliance to explore for Block 244 offshore Nigeria.

Statoil Orders Two More Carriers for Snohvit <http://www.rigzone.com/news/article.asp?a_id=2264>
Statoil and its partners have entered into an agreement with K-line and Mitsui for the construction of two new LNG carriers to be used on the Snohvit field in the Barents Sea.

Landmark and SGI Jointly Market GeoProbe Software <http://www.rigzone.com/news/article.asp?a_id=2265>
Landmark and SGI team up to market the GeoProbe visualization software that was developed by Magic Earth.

Wellstream Achieves ISO 14001 at UK Facility <http://www.rigzone.com/news/article.asp?a_id=2266>
Halliburton's Wellstream business unit achieves ISO 14001 and OHSAS 18001 certifications at its UK facility.

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"From The Rigzone Career Center"
I am a 1983 Louisiana Tech Petroleum Engineering graduate with 18 years of Amoco, Conoco and Ocean Energy deepwater drilling engineering experience. I have been and would like to continue to be an effective member of a drilling team involved with planning, rig selection, and operational performance measurement. Click here for detailed information regarding my experience and qualifications. <http://www.rigzone.com/jobs/resume.asp?r_id=9237> 	

	

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  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	50.0%	(7/14)	
+5000': 	100.0%	(25/25)	
Semisubs:	
2nd Gen: 	68.5%	(50/73)	
3rd Gen: 	82.0%	(41/50)	
4th Gen: 	100.0%	(38/38)	
5th Gen: 	100.0%	(7/7)	
Jackups:	
To 200': 	53.7%	(36/67)	
200' MC: 	58.3%	(14/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	87.5%	(84/96)	
+300' IC: 	88.9%	(48/54)	
Severe Env.: 	81.0%	(17/21)	
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view ! complete utilization report <http://www.rigzone.com/data/utilization_trends.asp>	

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  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$20.90/BBL 
(-1.28%)	
Brent Crude Oil: 	$20.34/BBL 
(5.23%)	
Natural Gas: 	$2.65/MMBtu 
(-7.34%)
Unleaded Gasoline: 	$0.59/gal 
(-1.67%)	
prices from: 	12/27/2001	
change since: 	12/26/2001	
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