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From: newsletter@rigzone.com [mailto:newsletter@rigzone.com]
Sent: Monday, March 04, 2002 5:18 PM
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Subject: RIGZONE Industry News


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	Tuesday
March 5, 2002	 iOTC <http://www.iotcnet.org> 		
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  <http://www.rigzone.com/images/spacer.gif>	In This Issue	   <http://www.rigzone.com/images/email/title_Corner.gif>	
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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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PDVSA Workers Continue Protests <http://www.rigzone.com/news/article.asp?a_id=2760>
PDVSA workers continued protests over the appointment of the new board of directors of the Venezuela's oil company. 

TotalFina Elf Shuts In Wells Due to Gas Blowout <http://www.rigzone.com/news/article.asp?a_id=2757>
TotalFinaElf has begun efforts to stop the flow of natural gas and regain control of a well which erupted Friday afternoon during drilling operations in East Kalimant! an. 

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Mobile MapWorks Plus 

Logica announces the release of its map-based field solutions offering, Mobile MapWorks Plus. This map-based field solution suite provides an innovative approach to mobile computing that addresses the many field requirements of energy and utility companies. For more information click here <https://www.rigzone.com/admin/news/news_article.asp?action=UPDATE&article_id=2738>. 


	

Exploration	   <http://www.rigzone.com/images/email/title_Corner.gif>	
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Bligh Spuds Well Offshore China <http://www.rigzone.com/news/article.asp?a_id=2762>
Bligh Oil & Minerals ! reports that the Wei 6-12-1 well spudded on March 1, 2002 by the CNOOC Services Ltd. jackup, Nanhai IV. 

OMV Begins Exploration in Pakistan <http://www.rigzone.com/news/article.asp?a_id=2761>
OMV will begin exploration of a new gas field in Pakistan in the next few weeks. 

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Production	   <http://www.rigzone.com/images/email/title_Corner.gif>	
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FMC Awarded $16 Million Brazilian Subsea Contract <http://www.rigzone.com/news/article.asp?a_id=2756>
FMC Energy Systems business has been awarded contracts valued at $16 million to supply subsea production solutions for Petrobras and Halliburton KBR offshore Brazil. 

ATP Announces Record Breaking Proved Reserves <http://www.rigzone.com/news/article.asp?a_id=2755>
ATP Oil & Gas Corporation announced 235 billion cubic feet equivalent (Bcfe) as its total estimated proved oil and gas reserves as of December 31,! 2001. 

Halliburton Performs First Downhole Well Testing Using ATS <http://www.rigzone.com/news/article.asp?a_id=2752>
Halliburton Energy Services has performed its first data acquisition project using the Acoustic Telemetry System (ATS(TM)) for Gaz de France, off the coast of the Netherlands. 

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Company & Financial News	   <http://www.rigzone.com/images/email/title_Corner.gif>	
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Weatherford and Shell Accelerate Expandable Technology Development <http://www.rigzone.com/news/article.asp?a_id=2759>
Weatherford's Completion Systems division has obtained a worldwide license to Shell's expandable technology. 

Reliance Industries Merger Creates India's Largest Integrated Oil Company <http://www.rigzone.com/news/article.asp?a_id=2758>
Reliance Industries has approved a merger with Reliance Petroleum to create the country's first fully integrated oil and pet! rochemicals major. 

Greka To Restructure and Sell E&P Assets <http://www.rigzone.com/news/article.asp?a_id=2754>
Greka Energy Corporation announced that it is restructuring its business to focus on the Company's integration of its Central California operations. 

ExxonMobil's Hoover Diana Project to be Honored at OTC 2002 <http://www.rigzone.com/news/article.asp?a_id=2753>
ExxonMobil's Hoover Diana project has received the prestigious Distinguished Achievement Award for Companies, Organizations and Institutions from the Offshore Technology Conference. 

PetroQuest Sells Valentine Field <http://www.rigzone.com/news/article.asp?a_id=2751>
PetroQuest Energy, Inc. has sold its interest in Valentine Field to an undisclosed purchaser for $18.6 million. 

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Resume of Marc Babineaux 

Mr. Marc Babineaux is available for assignment as a full-time, permanent employee or on a contract basis. Mr. Babineaux is a deepwater driling consultant with 20 years experience. He has most recently worked in the Gulf of Mexico on exploration projects in 3,500 to 7,700 feet of water. Click here <http://www.rigzone.com/jobs/resume.asp?r_id=10548> to view a complete copy of his resume or call 1-337-367-1100 to arrange for an interview. 


	

Last 7 Days Top Stories	   <http://www.rigzone.com/images/email/title_Corner.gif>	
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Senior Management Positions Announced by ConocoPhillips <http://www.rigzone.com/news/article.asp?a_id=2710>
Phillips Petroleum Company and Conoco have named the initial members of the ConocoP! hillips global management team that will take office after the completion of their proposed merger of equals. 

Enterprise Oil scraps Llano Floating Production Unit Plan <http://www.rigzone.com/news/article.asp?a_id=2720>
EEX Corp's floating production unit being considered to develop the Gulf of Mexico Garden Banks Llano field has been scrapped. 

Helmerich/Payne Announces Spin Off <http://www.rigzone.com/news/article.asp?a_id=2704>
Helmerich & Payne Inc.will spin off its oil and gas production operations into a separate company named Cimarex Energy Co. 

Schlumberger Makes Management Changes <http://www.rigzone.com/news/article.asp?a_id=2729>
Schlumberger Oilfield Services has appointed Andrew Gould to the post of President and COO. 

K2 Energy Corp. Announced Major Shallow Gas Pools to be Developed  <http://www.rigzone.com/news/article.asp?a_id=2696>
K2 Energy Corp. announced reverse! circulation drilling technology yielded gas flows 57% to 100% higher than rotary air drilled wells. 

Shallow-Water Malaysia Development Announced by Murphy Oil <http://www.rigzone.com/news/article.asp?a_id=2709>
Murphy Oil Corporation is pleased to announce it has completed a three well exploration and appraisal drilling program offshore Sarawak, Malaysia. 

Shortfall Has Egypt Seeking To Delay Paying Foreign Gas Producers <http://www.rigzone.com/news/article.asp?a_id=2707>
Egypt, facing a $2.5 billion current account shortfall since September 11, wants to delay payments to foreign companies producing gas for local consumption. 

Akom Oil Discovery Offshore Equatorial Guinea reported by Amerada Hess  <http://www.rigzone.com/news/article.asp?a_id=2716>
Amerada Hess Corporation reported another oil discovery offshore Equatorial Guinea on Block G in the Rio Muni Basin. 

Hornbeck-Leevac Reports 2001 Results <http://www.rigzone.com/news/article.asp?a_id=2733>
Hornbeck-Leevac Marine Services, Inc. announced that revenues for the quarter ended December 31, 2001 increased 117.0 percent to $21.7 million compared to $10.0 million for the same quarter in 2000. 

Canadian Natural Resources West Africa Test Well Comes In  <http://www.rigzone.com/news/article.asp?a_id=2715>
Canadian Natural Resources Limited announces that its wholly owned subsidiary in Cote d'Ivoire, has successfully appraised the Baobab oil discovery in deepwater offshore block CI-40. 

Tidewater Takes Delivery of Supply Vessels <http://www.rigzone.com/news/article.asp?a_id=2727>
Tidewater has taken delivery of two supply vessels. Both vessels entered the fleet with contracts in hand. 

Nabors Industries Buys Enserco Energy Service Co. <http://www.rigzone.com/news/article.asp?a_id=2714>
Nabors Industries Inc. announced it will buy Enserco Energy Service Co. for more than $252 million. 

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Upcoming Oil & Gas Industry Events	   <http://www.rigzone.com/images/email/title_Corner.gif>	
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Mar. 10 	AAPG Annual Meeting <http://www.rigzone.com/news/event_detail.asp?event_id=21>	 Houston	
Mar. 17 	Oil Field Chemistry Symposium - 13th International <http://www.rigzone.com/news/event_detail.asp?event_id=224>	 Geilo	
Mar. 20 	LNG North America <http://www.rigzone.com/news/event_detail.asp?event_id=201>	 Houston	
Apr. 2 	e-Business in the E&P Industry - Targeting the Value <http://www.rigzone.com/news/event_detail.asp?event_id=228>	 Houston	
Apr. 7 	CORROSION/2002 <http://www.rigzone.com/news/event_detail.asp?event_id=254>	 Denver	
Apr. 9 	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	 Houston	
May. 1 	Nigeria Oil & Gas 2002!  <http://www.rigzone.com/news/event_detail.asp?event_id=256>	London	
May. 6 	Offshore Technology Conference 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=31>	 Houston	
May. 21 	Oil and Gas in the Gulf of Guinea <http://www.rigzone.com/news/event_detail.asp?event_id=263>	 London	
Jun. 23 	Ocean Mechanics and Arctic Engineering 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=219>	 Oslo	
list your conference <http://www.rigzone.com/news/post_!event.asp?action=INSERT>	 view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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  <http://www.rigzone.com/images/spacer.gif>	Click here to go to Baker Hughes <http://www.bakerhughes.com/> 
INTEC <http://www.intecengineering.com> 
HoverDril <http://www.hoverdril.com> 
Ocean International <http://www.oceanint.com>
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Contact Directory 2001 on CD <http://www.rigzone.com/store/product.asp?p_id=242>	
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Anchor Handling Tugs and Supply Vessels of the World, 8th Ed. <http://www.rigzone.com/store/product.asp?p_id=4>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	 
Dreco 1000 UE Land Rigs <http://www.rigzone.com/market/surplus_listing.asp?eq_id=399>	
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Skytop Brewster Workover Rig  <http://www.rigzone.com/market/surplus_listing.asp?eq_id=301>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	 Mud Logging Geologist <http://www.rigzone.com/jobs/job_posting.asp?p_id=1084>	
-	 FPSO Operations Superintendent <http://www.rigzone.com/jobs/job_posting.asp?p_id=1081!>	
-	 Offshore Compressor Mechanic  <http://www.rigzone.com/jobs/job_posting.asp?p_id=1080>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	 BEng, CEng, MSc Project Management  <http://www.rigzone.com/jobs/resume.asp?r_id=9374>	
-	 Well Testing / Underbalanced Drilling Supervisor <http://www.rigzone.com/jobs/resume.asp?r_id=11204>	
-	 Drilling Consultant <http://www.rigzone.com/jobs/resume.asp?r_id=11211>	
search for candidates >> <http://www.rigzone.com/jobs/search_resume.asp>	
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  <http://www.rigzone.com/images/email/title_tab_RigUtil.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To ! 5000': 	57.1%	 (8/14)	
+5000': 	96.0%	 (24/25)	
Semisubs:	
2nd Gen: 	70.8%	 (51/72)	
3rd Gen: 	82.0%	 (41/50)	
4th Gen: 	97.4%	 (37/38)	
5th Gen: 	85.7%	 (6/7)	
Jackups:	
To 200': 	55.2%	 (37/67)	
200' MC: 	41.7%	 (10/24)	
200' MS: 	14.3%	 (3/21)	
300' IC: 90.6%	 (87/96)	
+300' IC: 	94.4%	 (51/54)	
Severe Env.: 	85.7%	 (18/21)	
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view complete utilization report <http://www.rigzone.com/data/!utilization_trends.asp>	

  <http://www.rigzone.com/images/email/title_tab_OilPrices.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$22.60/BBL 
(0.89%)	
Brent Crude Oil: 	$21.93/BBL 
(0.18%)	
Natural Gas: 	$2.49/MMBtu 
(5.96%)	
Unleaded Gasoline: 	$0.71/gal 
(1.43%)	
prices from: 	3/4/2002	
change since: 	3/1/2002	
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