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	Friday March 1, 2002	[IMAGE] 			
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[IMAGE]		      [IMAGE] [IMAGE]      In This Issue [IMAGE]      [IMAGE]     [IMAGE]    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    [IMAGE]   [IMAGE]       Industry Headlines [IMAGE]      [IMAGE]       BP Will No Longer Make Political Donations  BP has promised not to make anymore political contributions anywhere.  Norwegian Petroleum Directorate Announces North Sea Awards  Winners of the North Sea Awards 2001 have been announced by the Norwegian Petroleum Directorate.    [IMAGE]   [IMAGE]       Exploration [IMAGE]      [IMAGE]     [IMAGE]  !  AJ Lucas Wins Major Directional Drilling Work  AJ Lucas has successfully secured the contract to directionally drill under 12 rivers in the northern section of Tasmania for the Duke Energy Pipeline.  Norsk Hydro Announces Another Successful Well on Oseberg  Norsk Hydro made another oil discovery in the Jurassic sandstones in Block 30/9-20S in the Oseberg field.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  Norne Field Sets Production Record  The Norne field, operated by Statoil, in the Norwegian Sea has set a production record of over 236,000 barrels of oil per day.  ! Marathon To Develop UK Pipeline  Marathon Oil Company announced plans to lead an initiative for a new North Sea natural gas pipeline designed to provide additional gas for the UK market.  Blue Dolphin Increases Stake in Pipeline  Blue Dolphin Energy Company has acquired an additional 1/3 interest in the Blue Dolphin Pipeline System.  Phillips Brings Jade Field On Stream  The Jade field is currently producing 60 million cubic feet of gas per day and 4,500 barrels of oil per day.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Hornbeck-Leevac Reports 2001 Results  Hornbeck-Leevac Marine Services, Inc. announced that revenues for the quarter ended Decemb! er 31, 2001 increased 117.0 percent to $21.7 million compared to $10.0 million for the same quarter in 2000.   Dril-Quip Sees 24% Increase in Results for 2001  Net income for the twelve months ended December 31, 2001 was $12.2 million, up from $11.0 million for the same period in 2000.  Schlumberger Makes Management Changes  Schlumberger Oilfield Services has appointed Andrew Gould to the post of President and COO.   Tidewater Takes Delivery of Supply Vessels  Tidewater has taken delivery of two supply vessels.  Both vessels entered the fleet with contracts in hand.    [IMAGE]   [IMAGE]  !        Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  Perenco Hits Offshore Gabon  Perenco announces a new oil discovery named Ompoyi, offshore Gabon.  Senior Management Positions Announced by ConocoPhillips  Phillips Petroleum Company and Conoco have named the initial members of the ConocoPhillips global management team that will take office after the completion of their proposed merger of equals.   Ocean Rig's Cost for the Eirik Raude Goes Up  The most recent estimate show that the completion of the Eirik Raude  at the yard in Canada will result in increased costs compared to previous estimates.  Enterprise Oil scraps Llano Floating Production Unit Plan  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  Helmerich & Payne Inc.will spin off its oil and gas production operations into a separate company named Cimarex Energy Co.  Pakistan and Iran Sign Pipeline MOU  Pakistan and Iran signed a memorandum of understanding to undertake a pre-feasibility study for a proposed 1,600-mile Iran-India gas pipeline.  K2 Energy Corp. Announced Major Shallow Gas Pools to be Developed   K2 Energy Corp. announced reverse circulation drilling technology yielded gas flows 57% to 100% higher than rotary air drilled wells.   Statoil Sets Framework for Subsea Contracts  Statoil is to enter into frame agreements with FMC Kongsbery Subsea AS, ABB Offshore Systems and Kvaerner Oilfield Products for the delivery of subsea systems.  Canadian Natural  Resources West Africa Test Well Comes In   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.   Shallow-Water Malaysia Development Announced by Murphy Oil  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  Egypt, facing a $2.5 billion current account shortfall since September 11, wants to delay payments to foreign companies producing gas for local consumption.  Nabors Industries  Buys  Enserco Energy Service Co.  Nabors Industries Inc. announced it will buy Enserco Energy Service Co. for more than $252 million.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  Mar. 10    AAPG Annual Meeting  Houston Mar. 17    Oil Field Chemistry Symposium - 13th International  Geilo Mar. 20    LNG North America  Houston Apr. 2 !  e-Business in the E?Industry - Targeting the Value  Houston Apr. 7     CORROSION/2002  Denver Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston May. 1     Nigeria Oil & Gas 2002  London May. 6     Offshore Technology Conference 2002  Houston Jun. 23    Ocean Mechanics and Arctic Engineering 2002  Oslo Aug. 27    ONS 2002 Conference and Exhibition  Stavanger  list your conference  view upcoming events   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Click here to go to Baker Hughes  AADE  HoverDril  Ocean International   [IMAGE]   [IMAGE] promote your company        [IMAGE] [IMAGE]  [IMAGE]  Offshore Engineering  [IMAGE] [IMAGE]  The North Sea Field Development Guide, 8th Ed.  [IMAGE] [IMAGE]  North Sea Oil and Gas Activity and Concession Map 2001  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: Wartsila Generator Sets  [IMAGE]    Air Hoists  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Offshore Compressor Mechanic   - Senior Structural Engineer   -Process Engineer    more hot jobs >>   featured candidates:  - Senior Reservoir Engineer  - Completions Engineer  - Civil Pipeline Engineer   search for candidates >!    [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   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)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $21.70/BBL  (1.50%) Brent Crude Oil:  $21.35/BBL  (2.40%) Natural Gas:  $2.36/MMBtu  (-3.08%) Unleaded Gasoline:  $0.58/gal  (-1.41%) prices from:  2/28/2002 change since:  2/27/2002  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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