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	Wednesday
January 16, 2002	 <http://www.sonsub.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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Rowan Announces 2001 Net Income <http://www.rigzone.com/news/article.asp?a_id=2394>
For the year ended December 31, 2001, Rowan generated net income of $77.0 million, or $.80 per share, compared to $70.2 million, or $.74 per share, in 2000.

Enron Releases UBS Deal Details <http://www.rigzone.com/news/article.asp?a_id=2393>
The Enron/UBS deal for Enron's North American trading operation will entitle Enron to receive one-third of the profits generated by the new t! rading entity.

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advertisement	
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> 

	

Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Venture To Begin Drilling Program on Sycamore Field <http://www.rigzone.com/news/article.! asp?a_id=2397>
Venture Production will start drilling in May of this year at its Sycamore field in the UK Sector of the North Sea.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Statoil Sells First Oil From Girassol <http://www.rigzone.com/news/article.asp?a_id=2400>
Statoil has sold its first load of crude - one million barrels - from the TotalFinaElf-operated Girassol field offshore Angola.

CNOOC Taps Fuel Oil Market <http://www.rigzone.com/news/article.asp?a_id=2399>
CNOOC Ltd. is considering selling its new crude oil from the offshore QHD 32-6 field in the Bohai Bay as burning fuel.

Production Resume at Norne Field <http://www.rigzone.com/news/article.asp?a_id=2398>
Statoil reports that its Norne Field located in the Norwegian sector of the North Sea has r! esumed its output after being shut-in due to bad weather.

Anadarko's Algerian Field Onstream Early <http://www.rigzone.com/news/article.asp?a_id=2392>
Anadarko starts up production from the Hassi Berkine oil field in Blocks 404 and 403 two months ahead of schedule.

Magnum Hunter Enters GOM Sale-Leaseback Deal <http://www.rigzone.com/news/article.asp?a_id=2391>
Magnum Hunter Resources, Inc. has entered into a sale-leaseback transaction on three newly constructed offshore production platforms and associated pipelines that were recently placed into service.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Energy Partners Completes Hall-Houston Acquisition <http://www.rigzone.com/news/article.asp?a_id=2401>
Energy Partners, Ltd. has completed the acquisition of Hall-Houston and has elected Gary Hall, HHOC's founde! r, to the post of Vice-Chairman of EPL.

Delta Petroleum Acquires Castle Energy Assets <http://www.rigzone.com/news/article.asp?a_id=2396>
Delta Petroleum has entered into an agreement to purchase all of the domestic oil & gas properties of Castle Energy Corporation in a cash and stock deal.

Husky Plans to Spend $1.4 Billion in 2002 <http://www.rigzone.com/news/article.asp?a_id=2395>
Husky Energy Inc. announced a capital spending plan of $1.4 billion for 2002. Husky will spend approximately $975 million of the 2002 budget in Western Canada.

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advertisement	
 <http://www.rigzone.com/news/event_detail.asp?event_id=194> Human Resources in Oil and Gas is the comprehensive HR forum for the industry. The conference will deal with attracting and retaining quality staff and dealing with the effects of mergers, acquisitions, and restructuring. This conference is a must for anyone involved in the often hectic human resources decisions of todays oil and gas companies. HR in Oil and Gas is being held in Aberdeen on February 27 and 28. Click here for more information. <http://www.rigzone.com/news/event_detail.asp?event_id=194> 	

	

Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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BP Scales Back Alaskan Operations <http://www.rigzone.com/n! ews/article.asp?a_id=2344>
BP has decided to downsize its staff in Anchorage and shelve its Liberty project at this time.

PetroChina and Shell Sign Gas Pipeline Deal <http://www.rigzone.com/news/article.asp?a_id=2350>
PetroChina and Shell have entered into a preliminary agreement for an $18 billion East/West China pipeline project.

Former Enron Execs Start New Company <http://www.rigzone.com/news/article.asp?a_id=2387>
Several former Enron senior executives have formed a new company to provide risk management services to the energy industry.

Torch Offshore Purchases Construction Vessel  <http://www.rigzone.com/news/article.asp?a_id=2360>
Torch Offshore has purchased a 520-foot vessel which it intends to convert to a DP-2 offshore construction vessel and rename the Midnight Express.

National-Oilwe! ll Acquires HALCO <http://www.rigzone.com/news/article.asp?a_id=2375>
National-Oilwell has acquired HAL Oilfield Pump & Equipment Company.

Anderson Employees Destroy Enron Documents <http://www.rigzone.com/news/article.asp?a_id=2369>
Andersen reports that individuals in the firm have disposed of a significant number of electronic and paper documents and correspondence relating to the Enron account

Devon Hits Offshore Brazil <http://www.rigzone.com/news/article.asp?a_id=2361>
Devon Energy has made a discovery in the shallow waters of Campos Basin offshore Brazil.

Petrobras Awards FMC $17 Million Contract <http://www.rigzone.com/news/article.asp?a_id=2358>
FMC will provide Petrobras with three deepwater solutions with a contract value of approximately $17 million.

Anadarko Petroleum Provides 2002 Outlook <http://www.rigzone.com/news/article.asp?a_id=2384>
Anadarko Petroleum Corporation outlines its expectations for capital! spending for 2002 and offers guidance on 2001 financial and operating results.

Kerr-McGee Announces 2002 Capital Budget <http://www.rigzone.com/news/article.asp?a_id=2354>
Kerr-McGee to allocate $310 million of its 2002 exploration and production budget for the North Sea.

Novus Petroleum Hits in the Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2362>
The La Playa-1 well in the western Gulf of Mexico offshore Padre Island has discovered natural gas.

Malaysia, Indonesia & Vietnam Enter Joint Venture  <http://www.rigzone.com/news/article.asp?a_id=2347>
The national oil companies of Malaysia, Indonesia and Vietnam have signed a joint venture agreement to explore for oil offshore Vietnam.

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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Jan. 22 	Alliances and Partnering in Oil & Gas <http://www.rigzone.com/news/event_detail.asp?event_id=75>	Singapore	
Feb. 6 	Torch Mid-Winter Energy Conference <http://www.rigzone.com/news/event_detail.asp?event_id=196>	New York	
Feb. 7 	Marine Construction 2002 <http://www.rigzone.com/news/event_detail.asp?event_id=166>	Houston	
Feb. 10 	2002 SPE International Petroleum Conference & Exhibition in Mexico <http://www.rigzone.com/news/event_detail.asp?event_id=35>	Villahermosa	
Feb. 26 	2002 IADC/SPE Drilling Conference and Exhibition  <http://www.rigzone.com/news/event_detail.asp?event_id=37>	Dallas	
Feb. 26 	Offshore Oil and Gas Safety Seminars <http://www.rigzone.com/news/event_detail.asp?event_id=214>	Aberdeen	
Feb. 27 	Human Resources in Oil & Gas <http://www.rigzone.com/news/event_detail.asp?event_id=194>	Aberdeen	
Mar. 10 	AAPG Annual Meeting <http://www.rigzone.com/news/! event_detail.asp?event_id=21>	Houston	
Mar. 20 	LNG North America <http://www.rigzone.com/news/event_detail.asp?event_id=201>	Houston	
Apr. 9 	2002 SPE/ICoTA Coiled Tubing Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=41>	Houston	
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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The Abandonment of Offshore Oil & Gas Fields <http://www.rigzone.com/store/product.asp?p_id=51>	
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Mapper 30-Day Trial CD <http://www.rigzone.com/store/product.asp?p_id=611>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
BOP Closing Units <http://www.rigzone.com/market/surplus_listing.asp?eq_id=354>	
 <http:! //www.rigzone.com/market/surplus_listing.asp?eq_id=354>
	
650 Ton Maritime Hydraulics Topdrive <http://www.rigzone.com/market/surplus_listing.asp?eq_id=235>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Project Manager <http://www.rigzone.com/jobs/job_posting.asp?p_id=972>	
-	Sales & Account Manager <http://www.rigzone.com/jobs/job_posting.asp?p_id=963>	
-	Safety Advisors <http://www.rigzone.com/jobs/job_posting.asp?p_id=960>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Well Rounded Rig Supervision with Safety First. <http://www.rigzone.com/jobs/resume.asp?r_id=9806>	
-	Gulf of Mexico Production Operator <http://www.rigzone.com/jobs/resume.asp?r_id=9905>	
-	Mud Logger - Well Site Geologist <http://www.rigzone.com/jobs/resume.asp?r_id=9914>	
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': 	50.0%	(7/14)	
+5000': 	96.0%	(24/25)	
Semisubs:	
2nd Gen: 	67.1%	(49/73)	
3rd Gen: 	86.0%	(43/50)	
4th Gen: 	100.0%	(38/38)	
5th Gen: 	100.0%	(7/7)	
Jackups:	
To 200': 	56.7%	(38/67)	
200' MC: 	50.0%	(12/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	86.5%	(83/96)	
+300' IC: 	90.7%	(49/54)	
Severe Env.: 	81.0%	(17/21)	
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view complete utilization report <http://www.rigzone.com/data/utilization_trends.asp>	

  <http://www.rigzone.com/images/email/title_tab_OilPric! es.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$18.48/BBL 
(-2.79%)	
Brent Crude Oil: 	$19.73/BBL 
(-0.20%)	
Natural Gas: 	$2.29/MMBtu 
(1.33%)	
Unleaded Gasoline: 	$0.53/gal 
(-3.64%)	
prices from: 1/15/2002	
change since: 	1/14/2002	
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