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	Wednesday January 16, 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]       Rowan Announces 2001 Net Income  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  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.    [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            Exploration [IMAGE]      [IMAGE]     [IMAGE]  Venture To Begin Drilling Program on Sycamore Field  Venture Production will start drilling in May of this year at its Sycamore field in the UK Sector of the North Sea.    [IMAGE]   [IMAGE]       Production [IMAGE]      [IMAGE]     [IMAGE]  Statoil Sells First Oil From Girassol  Statoil has sold its first load of crude - one million barrels - from the TotalFinaElf-operated Girassol field offshore Angola.  CNOOC Taps Fuel Oil Market  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  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  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  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.    [IMAGE]   [IMAGE]       Company & Financial News [IMAGE]      [IMAGE]     [IMAGE]  Energy Partners Completes Hall-Houston Acquisition  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  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  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.    [IMAGE]   [IMAGE]  advertisement   [IMAGE] 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.            Last 7 Days Top Stories [IMAGE]      [IMAGE]     [IMAGE]  BP Scales Back Alaskan Operations  BP has decided to downsize its staff in Anchorage and shelve its Liberty project at this time.  PetroChina and Shell Sign Gas Pipeline Deal  PetroChina and Shell have entered into a preliminary agreement for an $18 billion East/West China pipeline project.  Former Enron Execs Start New Company  Several former Enron senior executives have formed a new company to provide risk management services to the energy industry.  Torch Offshore Purchases Construction Vessel   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  National-Oilwell has acquired HAL Oilfield Pump & Equipment Company.  Anderson Employees Destroy Enron Documents  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  Devon Energy has made a discovery in the shallow waters of Campos Basin offshore Brazil.  Petrobras Awards FMC $17 Million Contract  FMC will provide Petrobras with three deepwater solutions with a contract value of approximately $17 million.  Anadarko Petroleum Provides 2002 Outlook  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  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  The La Playa-1 well in the western Gulf of Mexico offshore Padre Island has discovered natural gas.  Malaysia, Indonesia & Vietnam Enter Joint Venture   The national oil companies of Malaysia, Indonesia and Vietnam have signed a joint venture agreement to explore for oil offshore Vietnam.    [IMAGE]   [IMAGE]       Upcoming Oil & Gas Industry Events [IMAGE]      [IMAGE]     [IMAGE]  Jan. 22    Alliances and Partnering in Oil & Gas   Singapore Feb. 6     Torch Mid-Winter Energy Conference  New York 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. 26    Offshore Oil and Gas Safety Seminars  Aberdeen Feb. 27    Human Resources in Oil & Gas  Aberdeen Mar. 10    AAPG Annual Meeting  Houston Mar. 20    LNG North America  Houston Apr. 9     2002 SPE/ICoTA Coiled Tubing Conference and Exhibition  Houston  list your conference  view upcoming events   [IMAGE]   [IMAGE]    [IMAGE]    [IMAGE] [IMAGE]  Horizon Offshore  Global Completion Service  HoverDril  DataLog  Baker Hughes   [IMAGE]   [IMAGE]   promote your company      [IMAGE] [IMAGE]  [IMAGE]  The Abandonment of Offshore Oil & Gas Fields  [IMAGE] [IMAGE]  Mapper 30-Day Trial CD  [IMAGE] [IMAGE]   Gulf of Mexico Activity Report  [IMAGE]  [IMAGE]   [IMAGE]   more products      [IMAGE] [IMAGE]  featured equipment: BOP Closing Units  [IMAGE]    650 Ton Maritime Hydraulics Topdrive  [IMAGE]   [IMAGE]   [IMAGE]   more equipment      [IMAGE] [IMAGE]   featured jobs:  - Project Manager  - Sales & Account Manager  - Safety Advisors  more hot jobs >>    featured candidates:  - Well Rounded Rig Supervision with Safety First.  - Gulf of Mexico Production Operator  - Mud Logger - Well Site Geologist   search for candidates >>   [IMAGE]   [IMAGE]     [IMAGE] [IMAGE]   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)  [IMAGE]   [IMAGE]   view complete utilization report      [IMAGE] [IMAGE]  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  [IMAGE]   [IMAGE]    [IMAGE] 	[IMAGE]		
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