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	Monday January 7, 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]       Tanker Recovery In Progress  Two salvage vessels are en route to the tanker that ran aground off the Cornish coast.  Jordan and Algeria Improve Exploration Commitment  Jordan and Algeria improve relations and strengthen their commitment to jointly explore for oil & gas.  Halliburton Says the Rumors A! re Not True  Halliburton says there is no basis for the rumors that the company has filed for bankruptcy.    [IMAGE]   [IMAGE]       Exploration [IMAGE]      [IMAGE]     [IMAGE]  Santos to Focus on Western Australia  During the first quarter of 2002, Santos is going to focus its exploration efforts on the Carnarvon Basin offshore Western Australia.  PanCanadian Decides Against Fourth Well  PanCanadian has decided not to drill a fourth exploratory offshore Nova Scotia this spring.  Apache Makes Egyptian Discovery  Apache has made its first wildcat discovery of 2002 in Egypt's Western Desert on the Khalda Concession.    [IMAGE]          Production [IMAGE]   [IMAGE]  [IMAGE]  [IMAGE] First Oil Expected from Terra Nova This Month  After several delays, Terra Nova is schedules to come on stream at the end of January.  Prosafe Awarded FPSO Work Offshore Nigeria  Prosafe has been awarded an eight-year contract for an FPSO to work on the Abo field offshore Nigeria by a consortium led by Agip.  First Gas Flows from Skene Field  ExxonMobil turns on the tap in the Skene field located in the UK sector of the North Sea.  Pegasus Awarded Subsea Contract by Talisman  Pegasus International has been awarded a subsea engineering design contract on the Kildrummy field in the UK sector of the North Sea.        [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Naftex Secures Financing for Brazilian Offshore Exploration  Naftex has secured financing for its share of the cost of exploration on Block BS-3 in the Santos Basin offshore Brazil.  Newfield Makes Management Changes  Newfield Exploration has made management changes in Australia and Anadarko Basin office locations.    [IMAGE]   [IMAGE]  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            Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  MMS Approves Use of FPSOs In Gulf of Mexico  The U.S. Minerals Management Service has approved the use of FPSO vessels in the central and western portions of the Gulf of Mexico.  Enron Receives Approval to Sell Two Assets  On December 28th a judge approved the sale of two of Enron's assets at a value of $310 million.  Marathon Acquires Interests in Equatorial Guinea  Marathon has completed its acquisition of CMS Energy's interests in Equatorial Guinea for $993 million.  Nabors Changes Corporate Structure  Nabors Industries Board of Directors has approved a plan to reorganize the company and change its place of incorporation from Delaware to Bermuda.  Kvaerne! r Receives Final Approval for Rescue Plan  Kvaerner has received approval from the final group of lenders for the rescue plan that would merge Kvaerner and Aker Maritime.  Halliburton Introduces New Perforation Flow Laboratory  Halliburton has added its Perforation Flow Laboratory to its PerfPro process to provide detailed instrumentation and controlled-laboratory conditions that can allow insight into physical phenomena occurring in the reservoir during complicated perforating and multi-phase flow events.  FMC Corporation Spins Off FMC Technologies  FMC Corporation has distributed all of its remaining shares in FMC Technologies making it a fully independent company.  Marathon Begins Trading on NYSE  Marathon Oil Corporation has begun trading on t! he New York Stock Exchange as a standalone company following the separation of Marathon Group and U.S. Steel.  Smedvig's CEO Resigns  Christian Bull Eriksson has announced that he will step down as CEO of Smedvig ASA effective immediately.  SMOE Awarded North Sea Platform Contract  SembCorp has been awarded a contract by Maersk for the installation of a process deck and accommodation module in the North Sea.  3TEC Energy Completes Merger with Enex Resources  3TEC Energy has completed its merger with Enex Resources effective December 31, 2001.  Regent Energy Acquires Bayou Bouillon Gas Field  Regent Energy has closed its acquisition of Bayou Bouillon gas fields in Southern Louisiana.  [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  Jan. 22    Alliances and Partnering in Oil & Gas   Singapore Feb. 7     Marine Construction 2002  Houston Feb. 10    2002 SPE International Petroleum Conference & Exhibition in Mexico  Villahermosa Feb. 26    2002 IADC/SPE Drilling Conference and Exhibition   Dallas Feb. 27    Human Resources in Oil & Gas  Aberdeen Mar. 10    AAPG Annual Meeting  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibitio!   Houston May. 6     Offshore Technology Conference 2002  Houston Aug. 27    ONS 2002 Conference and Exhibition  Stavanger Oct. 6     Society of Exploration Geophysicists Annual Meeting  Salt Lake City  list your conference  view upcoming events   [IMAGE]   [IMAGE]   	[IMAGE]	   [IMAGE] [IMAGE]  INTEC  Horizon Offshore  Global Completion Service  HoverDril  DataLog   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  Horizontal Well Technology  [IMAGE] [IMAGE]  Contributions in Petroleum Geology and Engineering: Volume 2 - Applied Open-Hole Log Analysis  [IMAGE] [IMAGE]  Principles of Ap! plied Reservoir Simulation, 2nd Ed.  [IMAGE]  [IMAGE]   [IMAGE]   more products   [IMAGE]      [IMAGE] [IMAGE]  featured equipment: Ideco H-35  DD Drive-in Rig   [IMAGE]   Maritime Hydraulics Iron Roughneck  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Electrical Engineer  - Naval Architect  - Offshore Safety Coordinator   more hot jobs >>   featured candidates:  - Electrical & Instrumentation QA/QC Inspector  - Wo! rkover/Completion Supervisor  - Oil Field Electrician   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   Drillships:  To 5000':   50.0% (7/14) +5000':   100.0% (25/25)  Semisubs:  2nd Gen:   67.1% (49/73) 3rd Gen:   82.0% (41/50) 4th Gen:   100.0% (38/38) 5th Gen:   100.0% (7/7)  Jackups:  To 200':   56.7%  (38/67) 200' MC:   54.2% (! 13/24) 200' MS:   14.3% (3/21) 300' IC:   87.5% (84/96) +300' IC:   88.9% (48/54) Severe Env.:   81.0% (17/21)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  Light Crude Oil:  $21.61/BBL  (6.09%) Brent Crude Oil:  $22.98/BBL  (11.28%) Natural Gas:  $2.20/MMBtu  (-2.65%) Unleaded Gasoline:  $0.63/gal  (10.53%) prices from:  1/4/2002 change since:  1/3/2002  [IMAGE]   [IMAGE]!    	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