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	Thursday
February 28, 2002	 <http://oad.realmedia.com/RealMedia/ads/click_nx.ads/UMUK_Rigzone.WeeklyNewsletter/THURAYA01_RIGWNMW02/102150216415210> 		
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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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Enron, Houston Astros Reach Agreement on Naming Rights <http://www.rigzone.com/news/article.asp?a_id=2725>
Enron Corp announced today that it has reached an agreement on the terms of a settlement regarding the naming rights contract between Enron and the Houston Astros Baseball Club. 

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Exploration	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Akom Oil Discovery Offshore Equatorial Guinea reported by Amerada Hess  <http://www.rigzone.com/news/article.asp?a_id=2716>
Amerada Hess Corporation reported another oil discovery offshore Equatorial Guinea on Block G in the Rio Muni Basin. 

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Production	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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TotalFinaElf to Spend $1 Bln for Additional Development of Gas Fields <http://www.rigzone.com/news/article.asp?a_id=2724>
TotalFinaElf reports it will spend $1 billion for additional development of gas fields in 2002 and 2003 in East Kalimantan. 

Amerada Hess reports Ceiba Oil Field Resumes Production From New FPSO <http://www.rigzone.com/news/article.asp?a_id=2722>
Amerada Hess reports oil production re! sumed in late January from Ceiba oil field on Block G off Equatorial Guinea. 

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Company & Financial News	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Marathon Oil Plans 2-Part Debt Sale <http://www.rigzone.com/news/article.asp?a_id=2723>
Oil and gas producer Marathon Oil Corp. plans to sell $1 billion of debt this week in a two-part sale.

Fugro awarded Peru LNG Study by Hunt Oil <http://www.rigzone.com/news/article.asp?a_id=2721>
Fugro GEOS awarded contract by Hunt Oil to provide metocean design criteria for a new liquefied natural gas (LNG) export terminal. 

Enterprise Oil scraps Llano Floating Production Unit Plan <http://www.rigzone.com/news/article.asp?a_id=2720>
EEX Corp's floating production unit being considered to develop the Gulf of Mexico Garden Banks Llano field has been scrapped.

Pride International reports 4th quarter profits slump <http://www.rigzone.com/new! s/article.asp?a_id=2719>
Pride International reported fourth- quarter net earnings slumped, reflecting the weakness in drilling and work activity. 

Year End 2001 Results announced by Kvaerner <http://www.rigzone.com/news/article.asp?a_id=2718>
Kvaerner ASA announced its results for the year ending December 31, 2001.

Record Year 2001 Results Reported By GulfMark Offshore <http://www.rigzone.com/news/article.asp?a_id=2717>
GulfMark Offshore Inc. announced net income of $6.5 million for the fourth quarter of 2001 on revenues of $32.9 million.

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Last 7 Days Top Stories	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Offshore Liftboat Sinks in the Gulf of Mexico <http://www.rigzone.com/news/article.asp?a_id=2664>
Nineteen rig workers were rescued from the choppy waters off! the Alabama coast as the wreckage of the liftboat floated nearby.

BJ Services Acquires OSCA, Inc. <http://www.rigzone.com/news/article.asp?a_id=2667>
BJ Services Company has signed a definitive merger agreement to acquire OSCA, Inc. for $28.00 per share.

BP Renames Gulf of Mexico Discovery <http://www.rigzone.com/news/article.asp?a_id=2674>
BP announced it has retired the name Crazy Horse, and has re-named its major Gulf of Mexico discovery Thunder Horse.

Perenco Hits Offshore Gabon <http://www.rigzone.com/news/article.asp?a_id=2681>
Perenco announces a new oil discovery named Ompoyi, offshore Gabon.

Senior Management Positions Announced by ConocoPhillips <http://www.rigzone.com/news/article.asp?a_id=2710>
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 m! erger of equals. 

Helmerich/Payne Announces Spin Off <http://www.rigzone.com/news/article.asp?a_id=2704>
Helmerich & Payne Inc.will spin off its oil and gas production operations into a separate company named Cimarex Energy Co.

Ocean Rig's Cost for the Eirik Raude Goes Up <http://www.rigzone.com/news/article.asp?a_id=2682>
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.

K2 Energy Corp. Announced Major Shallow Gas Pools to be Developed  <http://www.rigzone.com/news/article.asp?a_id=2696>
K2 Energy Corp. announced reverse circulation drilling technology yielded gas flows 57% to 100% higher than rotary air drilled wells. 

Canadian Natural Resources West Africa Test Well Comes In  <http://www.rigzone.com/news/article.asp?a_id=2715>
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. 

Statoil Sets Framework for Subsea Contracts <http://www.rigzone.com/news/article.asp?a_id=2684>
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.

Pakistan and Iran Sign Pipeline MOU <http://www.rigzone.com/news/article.asp?a_id=2690>
Pakistan and Iran signed a memorandum of understanding to undertake a pre-feasibility study for a proposed 1,600-mile Iran-India gas pipeline.

FMC Energy Inks Deal with Norsk Hydro <http://www.rigzone.com/news/article.asp?a_id=2668>
FMC Energy Systems business has signed a total vendor management frame agreement with Norsk Hydro through 2009.

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Upcoming Oil & Gas Industry Events	  <http://www.rigzone.com/images/email/title_Corner.gif>	
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Mar. 10 	AAPG Annual Meeting <http://www.rigzone.com/news/event_detail.asp?event_id=21>	Houston	
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 2! 002 <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	
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=INSERT>	view upcoming events <http://www.rigzone.com/news/event_home.asp>	
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Quest Deepwater Prospective Quarterly <http://www.rigzone.com/store/product.asp?p_id=73>	
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Contact Directory 2001 <http://www.rigzone.com/store/product.asp?p_id=241>	
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  <http://www.rigzone.com/images/spacer.gif>	featured equipment:	
Air Hoists <http://www.rigzone.com/market/surplus_listing.asp?eq_id=118>	
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Production Platform Deck <http://www.rigzone.com/market/surplus_listing.asp?eq_id=118>	
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  <http://www.rigzone.com/images/spacer.gif>	featured jobs: 	
-	Account Rep -! Business Development <http://www.rigzone.com/jobs/job_posting.asp?p_id=1010>	
-	Deepwater Drilling Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=905>	
-	Exploration Support Reservoir Engineer <http://www.rigzone.com/jobs/job_posting.asp?p_id=726>	
more hot jobs >> <http://www.rigzone.com/jobs/hot_jobs.asp>	
featured candidates: 	
-	Dynamic Instrument/Electrical/Controls Tech <http://www.rigzone.com/jobs/resume.asp?r_id=10679>	
-	Electrical Engineer/Power Station Engineer <http://www.rigzone.com/jobs/resume.asp?r_id=10322>	
-	Production Operator <http://www.rigzone.com/jobs/resume.asp?r_id=10148>
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  <http://www.rigzone.com/images/email/title_tab_RigUtil.gif>	
  <http://www.rigzone.com/images/spacer.gif>	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)	
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view complete utilization report <http://www.rigzone.com/data/utilization_trends.asp>	

  <http://www.rigzone.com/images/email/title_tab_OilPrices.gif>	
  <http://www.rigzone.com/images/spacer.gif>	Light Crude Oil: 	$21.38/BBL 
(-0.88%)	
Brent Crude Oil: 	$20.85/BBL 
(-0.33%)	
Natural Gas: 	$2.44/MMBtu 
(1.97%)	
Unleaded Gasoline: 	$0.59/gal 
(1.87%)	
prices from: 	2/27/2002	
change since: 	2/26/2002	
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