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	Wednesday
March 13, 2002	 <http://www.sgievent.com/upstream/> 		
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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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Shareholders of Both Conoco and Phillips Approve Merger <http://www.rigzone.com/news/article.asp?a_id=2820>
The shareholders of both Phillips Petroleum and Conoco voted to approve the proposed merger of equals between the two companies.

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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 <http://www.rigzone.com/news/article.asp?a_id=2805>.

	

Exploration	  <http://www.rigzone.com/images/email! /title_Corner.gif>	
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Bligh Hits Offshore China <http://www.rigzone.com/news/article.asp?a_id=2823>
Bligh Oil & Minerals reports that its first well in China, the Wei 6-12-1 exploration well in the Beibu Gulf, has discovered a 13.5 meter gross oil column in the Weizhou formation.

Novus Awarded ! Exploration License in Oman <http://www.rigzone.com/news/article.asp?a_id=2821>
Novus Petroleum has been awarded operatorship and a 100% interest in Block 31 in Oman.

Calvalley Petroleum Moves Forward with Yemen Exploration <http://www.rigzone.com/news/article.asp?a_id=2818>
Calvalley Petroleum expects to begin drilling on Block 9 in the Republic of Yemen within the next two months.

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Matrix Experiences More Delays on the Langsa L1 Well <http://www.rigzone.com/news/article.asp?a_id=2822>
The subsea safety valve on the well is unable to be re-opened and the leak near the valve can only be repaired by intervention with a drilling rig.

Phillips Moves Ahead with Bayu-Undan Field <http://www.rigzone.com/news/article.asp?a_id=2819>
Phillips Petroleum Company has signed an agreement that enables it and its co-venturers to mo! ve ahead with the gas development of the Bayu-Undan project in the Timor Sea.

BHP Awards Contract for Angostura Development <http://www.rigzone.com/news/article.asp?a_id=2816>
BHP awards CSO Aker Engineering the FEED contract for development of its Angostura project offshore Trinidad.

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Horizon Offshore Announces 2001 Results  <http://www.rigzone.com/news/article.asp?a_id=2817>
Horizon Offshore, Inc. reported net income for the fiscal year ending December 31, 2001, of $10.7 million which is up by $4.3 million from 2000.

Patterson-UTI Acquires Odin Drilling <http://www.rigzone.com/news/article.asp?a_id=2815>
Patterson-UTI acquires five more drilling rigs.

Ensco 7500 Will Experience Downtime During 1Q ! 2002 <http://www.rigzone.com/news/article.asp?a_id=2814>
The semisub, Ensco 7500, will spend approximately 30 days in the shipyard during the 1st quarter of 2002 for repairs to her hull.

Fortum Acquires Stake in Mikkel Field <http://www.rigzone.com/news/article.asp?a_id=2813>
Fortum strengthens position on Norwegian Continental shelf by acquiring a 7 percent stake in the Mikkel Field from Statoil.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Parker Drilling Awarded Sakhalin Drilling Project <http://www.rigzone.com/news/article.asp?a_id=2785>
Parker Drilling Company has been awarded new contracts to build and operate a rig to drill extended reach wells to offshore targets from a land-based location on Sakhalin Island, Russia.

Talisman Hits Offshore Trinidad <http://www.rigzone.com/news/article.asp?a_id=2786>
Talisman Energy Inc. has announced it! s Kairi-2 appraisal well in Trinidad has tested oil.

PDVSA Employees Increase Protests <http://www.rigzone.com/news/article.asp?a_id=2793>
Dissident employees of PDVSA decided to intensify their campaign in protest of recnet senior management changes.

Weatherford Achieves Milestone <http://www.rigzone.com/news/article.asp?a_id=2789>
Weatherford's Completion Systems division has successfully deployed its first Expandable Liner Hanger in YPF Maxus' Cinta E-11 well offshore Indonesia.

Newfield Hits in Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2803>
Newfield has made two discoveries in the Gulf of Mexico and expects production from these discoveries to commence by the end of this year.

Technip Wins Saudi Expansion Project <http://www.rigzone.com/news/article.asp?a_id=2764>
Technip-Coflexip has been awarded, by Saudi Arabian Oil Company, a major lump sum turnkey cont! ract for the expansion of the Berri gas plant.

Aker Kvaerner Launches New Company <http://www.rigzone.com/news/article.asp?a_id=2806>
Today, Kvaerner launched a new company to be known as 'Aker Kvaerner' which will supply products, services, technology and solutions to the global oil and gas industry.

ONGC is Looking for Deepwater Partners <http://www.rigzone.com/news/article.asp?a_id=2766>
ONGC is actively searching for joint venture partners to develop deepwater exploration blocks offshore India's east and west coasts. 

Trinidad & Tobago Government Wants to Increase Royalties <http://www.rigzone.com/news/article.asp?a_id=2799>
The Trinidad and Tobago government wants to renegotiate an increase in gas royalties with BP which would dramatically increase state revenues.

SA Five Engineering Wins Upgrade Contract <http://www.rigzone.com/news/article.asp?a_id=2792>
Bluewater Energy Se! rvices B.V. has awarded a contract to SA Five Engineering for the upgrade of the FPSO Glas Dowr.

UK Gets Tough On Oil Companies <http://www.rigzone.com/news/article.asp?a_id=2769>
The United Kingdom set tough new investment rules for North Sea licenses this week.

DONG To Bring Two Fields Onstream in 2003 <http://www.rigzone.com/news/article.asp?a_id=2788>
Two new oil fields in the Danish part of the North Sea, Nini and Cecilie, are expected to go on stream in the summer of 2003.

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The SGI Energy Summit 2002 - Visualizing the Future
 <http://www.sgievent.com/upstream/> Hear what leaders of top corporations, crucial software providers, and key policy makers have to say about the impact of advanced technology on the future of our industry. This summit promises to fish for all the critical answers to this industry's future success. To learn more, click here! <http://www.sgievent.com/upstream/>	

	

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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	
Aug. 27 	ONS 2002 Conference and Exhibition <http://www.rigzone.com/news/event_detail.asp?event_id=80>	Stavanger	
list your conference <http://www.rigzone.com/news/post_event.asp?action=INS! ERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Ideco DIR 805 <http://www.rigzo! ne.com/market/surplus_listing.asp?eq_id=431>	
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Gardner Denver 1100 SCR Rig <http://www.rigzone.com/market/surplus_listing.asp?eq_id=433>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
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more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
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-	Business Development Manager <http://www.rigzone.com/jobs/resume.asp?r_id=11422>	
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  <http://www.rigzone.com/images/spacer.gif>	Drillships:	
To 5000': 	57.1%	(8/14)	
+5000': 	96.0%	(24/25)	
Semisubs:	
2nd Gen: 	69.4%	(50/72)	
3rd Gen: 	82.0%	(41/50)	
4th Gen: 	94.7%	(36/38)	
5th Gen: 	85.7%	(6/7)	
Jackups:	
To 200': 	56.1%	(37/66)	
200' MC: 	41.7%	(10/24)	
200' MS: 	14.3%	(3/21)	
300' IC: 	89.6%	(86/96)	
+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>	

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  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$24.50/BBL 
(0.66%)	
Brent Crude Oil: 	$23.70/BBL 
(-0.80%)	
Natural Gas: 	$3.03/MMBtu 
(-0.33%)	
Unleaded Gasolin! e: 	$0.80/gal 
(1.27%)	
prices from: 	3/12/2002	
change since: 	3/11/2002	
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