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	Friday
December 21, 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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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.

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.

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Energy Graphics, Inc. announces the release of Version 5 of its INTELLEXTM Report oil and gas data reporting software for the PC. This release contains major enhancements, including multi-color lease maps and the ability to create reports on field and reservoir data from a new database product named FieldBaseTM. For more information, visit the Energy Graphics web site <http://www.energygraphics.com/> or send an email to bmccallum@energygraphics.com <mailto:bmccallum@energygraphics.com>. 	

	

Exploration	  <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/news/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.

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.

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.

Statoil Awards Transocean Searcher Mikkel Work <http://www.rigzone.com/news/article.asp?a_id=2259>
The Transocean Searcher will be headed to the Mikkel field during the third quarter of 2002 to drill and complet! e three wells for Statoil.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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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.

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 Nam Con Son natural gas project, offshore Vietnam.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Grey Wolf Increases Credit Faci! lity <http://www.rigzone.com/news/article.asp?a_id=2267>
Grey Wolf has amended its $50 million credit facility with its existing lender to increase the amount available under the facility to $75 million and extended the term to January 2006. 

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.

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.

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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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Devon Energy to Sell Latin American Assets <http://www.rigzone.com/n! ews/article.asp?a_id=2206>
Devon Energy is planning to sell several of its Latin American assets, located in Argentina and Brazil.

PDVSA to Spend $375 Million Offshore Trinidad <http://www.rigzone.com/news/article.asp?a_id=2234>
PDVSA plans to spend $375 million over the next three years on a natural gas exploration project offshore Trinidad.

Murphy Plans to Spend $866 Million in 2002 <http://www.rigzone.com/news/article.asp?a_id=2205>
Murphy Oil Corporation announces a capital program of $866 million for 2002, essentially level with spending during 2001.

Energy Partners to Acquire Hall-Houston <http://www.rigzone.com/news/article.asp?a_id=2219>
Energy Partners has entered into an agreement to acquire Hall-Houston Oil Company in a deal valued at approximately $88.3 million.

Conoco To Dev! elop Deepwater Magnolia Field <http://www.rigzone.com/news/article.asp?a_id=2222>
Conoco and Ocean Energy to develop the Magnolia Field in the deepwater Gulf of Mexico at a cost of $600 million.

Landmark Awarded Brazilian E&P Data Management Contract <http://www.rigzone.com/news/article.asp?a_id=2235>
Landmark has been awarded a four-year E&P data management contract by the Brazilian Geological Service to organize and manage all Brazilian seismic and well E&P data on behalf of ANP.

Santos and Esenjay Make Major Gas Discovery in Texas <http://www.rigzone.com/news/article.asp?a_id=2236>
The Runnells #7 well tested at 22 million cubic feet of natural gas and over 500 barrels of condensate per day.

Sakhalin-2 Reports 22 Percent Rise in Production <http://www.rigzone.com/news/article.asp?a_id=2240>
A consortium led by Shell reports that production offshore Russia's Sakhalin Island has increased by 22 percent this year from 1.67 million tons to 2.0 m! illion.

Burlington to Spend $1.3 Billion in 2002 <http://www.rigzone.com/news/article.asp?a_id=2243>
Burlington Resources plans to spend $1.3 billion in 2002. Most of the E&P budget will be spent on development programs in Canada, Algeria, the East Irish Sea and the United States.

Petrobras Looking to Increase Production Outside Brazil <http://www.rigzone.com/news/article.asp?a_id=2246>
Petrobras is in the market to purchase a medium-sized oil company with assets in the Gulf of Mexico.

ExxonMobil Completes Several Wells in the Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2204>
ExxonMobil Corporation announced the completion of the Hawkes and Timber Wolf exploration wells in the Mississippi Canyon area of the Gulf of Mexico.

Nexen Plans to Spend $1.24 Billion in 2002 <http://www.rigzone.com/news/article.asp?a_id=2220>
Nexen Inc. announced a 2002 capital investment ! program designed to deliver long-term value growth for shareholders.

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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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Oil and Gas Journal Databook, 2001 Ed. <http://www.rigzone.com/store/product.asp?p_id=116>	
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ME Portable Top Drive <http://www.rigzone.com/market/surplus_listing.asp?eq_id=395>	
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Cabot 250 Workover and Drilling Rig  <http://www.rigzone.com/market/surplus_listing.asp?eq_id=401>	
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more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
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-	Petroleum Engineer <http://www.rigzone.com/jobs/resume.asp?r_id=9001>	
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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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  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$19.25/BBL 
(-0.57%)	
Brent Crude Oil: 	$19.13/BBL 
(5.11%)	
Natural Gas: 	$2.74/MMBtu 
(4.58%)	
Unlea! ded Gasoline: 	$0.55/gal 
(-1.79%)	
prices from: 	12/20/2001	
change since: 	12/19/2001	
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