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IMPORTANT OIL & GAS NEWS

OIL & GAS NEWS ARCHIVE ... January - March 2000

1/97 - 6/97 7/97 - 12/97 1/98 - 3/98 4/98 - 6/98 7/98 - 9/98 7/98 - 12/98 1/99 - 3/99 4/99 - 6/99 7/99 - 9/99 10/99 - 12/99 1/00 - 3/00 4/00 - 6/00 7/00 - 9/00 10/00 - 12/00 1/01 - 3/01 current quarter

(3/31) ... Baker-Hughes reported U. S. rig count at 775, up 7 compared to last week ... Canada's rig count at 244, down 123 compared to last week ...
(3/30) ... Indo-Pacific Energy Ltd. completed the acquisition of interests in oil and gas properties in New Zealand, Australia, and Papua New Guinea from Trans-Orient Petroleum Ltd. for approx $4.1 million ...
(3/29) ... AGA reported a withdrawal of 43 BCF from the natural gas storage, representing a decrease of 1.3% at 31.4% full or 1,021 BCF ... the DOE reported crude oil stocks down 0.2 MMB at 292.4 MMB, distillate stocks down 2.7 MMB at 98.9 MMB, and unleaded gasoline stocks up 1.8 MMB at 201.1 MMB ... Iran announced plan to raise its production by 264,000 B/D and Mexico planned to raise 150,000 B/D ...
(3/28) ... API reported crude oil stocks down 1.24 MMB, distillate stocks down 1.62 MMB, unleaded gasoline stocks up 0.30 MMB, and refinery capacity up 0.3% at 90.4% compared to last week's ... Nine OPEC members, excluding Iran and Iraq, agreed to increase oil production by 1.45 million barrels per day or 6.3% ... Petrominerals Corp. (Foothill Ranch, CA) signed a letter of intent to purchase the stock of Hillcrest Beverly Oil Corp. (Los Angeles, CA) ... Ramoil Management Co. Ltd (Boca Raton, FL) signed a letter of intent to purchase York Resources, a natural gas producers in the Gulf of Mexico ... PowerSpring, a subsidiary of Metretek Technologies (Denver, CO) acquired Mercator Energy with 12.5% of PowerSpring stock and approx $1.2 million ...
(3/27) ... Conoco agreed to pay $26 million to settle court and administrative claims that Conoco underpaid oil and gas royalties ... An explosion occurred at the K-resin unit of Phillips Petroleum's chemical plant near Pasadena, Texas killing 1 and injured 71 ... the same complex had an explosion involving the K-resin unit in June 1999 and a series of explosions in October 1989 involving the polyethylene reactor...
(3/24) ... Baker-Hughes reported U. S. rig count at 768, up 4 compared to last week (600 for gas and 168 for oil) ... Canada's rig count at 367, down 67 compared to last week ... Exxon Mobil filed a lawsuit seeking to stop BP Amoco from selling Arco Alaska to Phillips Petroleum claiming that it has the first right of refusal based on contracts and agreements dated in 1964 ... BP Amoco said that Exxon Mobil only has the right to individual properties and not the whole company ...
(3/23) ... BP Amoco planned to form a joint venture with PetroChina, a unit of state-owned China National Petroleum, to market natural gas in eastern China ... BP Amoco agreed to take 20% of the initial public offer of PetroChina soon to be traded in the U. S. ... Exxon Mobil agreed to sell 49% interest in 318 gas stations in Austin, Dallas, and San Antonio to Tetco, 10 stations in the Dallas-Fort Worth area to Southland, and supply contracts for 102 stations in Houston and Bryan to Petroleum Wholesale ...
(3/22) ... AGA reported a withdrawal of 62 BCF from the natural gas storage, representing a decrease of 1.9% at 32.7% full or 1,064 BCF ... the DOE reported crude oil stocks up 1.7 MMB at 292.6 MMB, distillate stocks down 1.1 MMB at 101.6 MMB, and unleaded gasoline stocks up 0.5 MMB at 199.3 MMB ... Tuboscope agreed to merge with Varco International ... Power Exploration (Fort Worth) agreed to acquire Pepin Oil Co, Oklahoma, to become it wholly owned subsidiary... HYTK Industires (Bennedict, Kansas) agreed to acquire Mogg Energy Service covering 36 oil and gas wells ...
(3/21) ... API reported crude oil stocks up 4.70 MMB, distillate stocks down 0.39 MMB, unleaded gasoline stocks up 0.56 MMB, and refinery capacity up 0.9% at 90.1% compared to last week's ...
(3/20) ... Duke Energy agreed to acquire 20% interest in Canadian 88 for approx $34 million ... North Coast Energy (Twinsburg, Ohio) completed the acquisition of Peake Energy from Belden & Blake for approx $72.5 million ...
(3/17) ... Baker-Hughes reported U. S. rig count at 764, down 4 compared to last week (595 for gas and 169 for oil) ... Canada's rig count at 434, down 7 compared to last week ...
(3/16) ... Petro-Canada swapped its interest in the Valhalla and Wapity in northwest Alberta for Husky Oil's 4.99% in the Terra Nova field and 10% in the White Rose field, both are offshore Newfoundland ... Texas Eastern Products Pipeline Co. agreed to acquire the stock of ARCO's Pipeline ...
(3/15) ... AGA reported a withdrawal of 31 BCF from the natural gas storage, representing a decrease of 1.2% at 34.6% full or 1,126 BCF ... the DOE reported crude oil stocks up 0.4 MMB at 290.9 MMB, distillate stocks unchanged at 102.7 MMB, and unleaded gasoline stocks down 2.2 MMB at 198.8 MMB ... Phillips Petroleum agreed to acquire Arco's Alaskan operations including oil fields, pipeline, shipping operations, and assets from BP Amoco and Arco for approx $7 billion ...
(3/14) ... API reported crude oil stocks down 3.56 MMB, distillate stocks down 2.37 MMB, unleaded gasoline stocks down 2.05 MMB, and refinery capacity up 1.3% at 89.2% compared to last week's ... BP Amoco PLC agreed to acquire Burmah Castrol PLC, British's old lubricant company ... Aquila Energy (Kansas City, MO) agreed to acquire the marketing assets of US Gas Transportation (Dallas, TX) ...
(3/10) ... Baker-Hughes reported U. S. rig count at 768, down 22 compared to last week (594 for gas and 174 for oil) ... Canada's rig count at 441, down 22 compared to last week ... Enron Oil & Gas swapped its properties in Sacramento Valley, California and in western Gulf of Mexico for Oxy's Logansport field in north Louisiana and east Texas ... Enron Oil & Gas swapped its properties in Hemphill County, Texas and in northwest Oklahoma for Burlington Resources' properties in southeast New Mexico and west Texas in the Permian Basin ... Cotton Valley Resources (Oklahoma City, OK) acquired 53 properties in Oklahoma from EDB Energy L.L.C. with common stock of Aspen Group Resources ...
(3/9) ... Kinder Morgan Energy Partners, L. P., already owned 20% in Shell CO2 Co. Ltd., agreed to acquired the remaining 80% interest for approx $185.5 million, owning the largest domestic CO2 transportation and marketing business ...
(3/8) ... AGA reported a withdrawal of 29 BCF from the natural gas storage, representing a decrease of 0.9% at 35.8% full ... the DOE reported crude oil stocks up 4.6 MMB at 290.5 MMB, distillate stocks up 1.7 MMB at 102.7 MMB, and unleaded gasoline stocks up 4.5 MMB at 1201.0 MMB ... Occidental Petroleum agreed to acquire Altura Energy Ltd, a joint venture between BP Amoco PLC and Royal Dutch Shell AG for approx $3.6 billion with $1.2 billion in cash and borrowed $2 billion from BP Amoco and Shell ... Renaissance Energy agreed to acquire 3 oil properties (Pembina, Boundary Lake, and Cactus Lake) in western Canada from Petro-Canada for approx $220 million ... Samedan, Mediterranean Sea, announced a natural gas discovery 15 miles offshore Israel tested 33 MMCF/D from 6,800 feet ...
(3/7) ... API reported crude oil stocks up 7.62 MMB, distillate stocks down 0.36 MMB, unleaded gasoline stocks up 4.02 MMB, and refinery capacity down 0.1% at 87.9% compared to last week's ...
(3/6) ... Repsol, Apache, and Novus announced their gas discovery in the Khalde Concession in the western desert of Egypt, tested 25.3 MMCF/D and 139 B/D from 13,200 feet ... Iran, Libya, and Algeria questioned the need to increase world's production while Saudi Arabia, Venezuela, Kuwait, and Mexico believed in an increase in production ...
(3/3) ... Baker-Hughes reported U. S. rig count at 790, up 30 compared to last week (609 for gas and 181 for oil) ... Canada's rig count at 485, down 60 compared to last week ...
(3/2) ... Valero Energy agreed to acquire the 130,000-B/D refinery in Benicia near San Francisco and 340 service stations in California from Exxon Mobil for approx $895 million ... Conoco Canada Ltd acquired almost all natural gas liquid business of PetroCanada including the natural gas processing plant near Medicine Hat and 580-mile pipeline system ...
(3/1) ... AGA reported a withdrawal of 74 BCF from the natural gas storage, representing a decrease of 2.3% at 36.7% full ... the DOE reported crude oil stocks up 0.4 MMB at 285.9 MMB, distillate stocks up 1.7 MMB at 101.0 MMB, and unleaded gasoline stocks down 0.2 MMB at 196.5 MMB ... El Paso Field Services agreed to acquire 42.3% interest in the Indian Basin, Eddy County, New Mexico including gas processing and treating plant from ONEOK for approx $55 million ... Marathon is the operator ... Cantera Resources acquired all assets of gas processing business of TXU Processing (formerly Enserch Processing) including 9 processing plants and 1,800-mile of pipeline ...
(2/29) ... API reported crude oil stocks down 0.42 MMB, distillate stocks up 3.06 MMB, unleaded gasoline stocks down 0.60 MMB, and refinery capacity up 1.5% at 88.0% compared to last week's ... NiSource agreed to acquire Columbia Energy Group for approx $6 billion with cash and stocks also assuming $2.5 billion debt, both companies will be subsidiaries of a new holding company ... Key Production (Denver, CO), Miller Exploration, and Remington Oil & Gas announced a gas discovery in the south side of the Kola salt dome in Covington County, Mississippi test flowed 9.1 MMCF/D and 456 B/D from the Sligo and Rodessa at 14,400 feet ... EXCO Resources (Dallas, TX) acquired interests in 21 gas wells in Val Verde County for approx $12.2 million ...
(2/28) ... Energy Search (Knoxville, TN) agreed to acquire 46 wells and gathering system in 8,090 acres in Raleigh County, West Virginia from Cabot Oil & Gas ... Falcon Creek Resources agreed to acquire oil and gas properties in Lea County, New Mexico from Cross Timbers for approx $25.3 million ... Newfield Exploration (Houston, TX) completed the acquisition of 3 gas fields in Hidalgo, Brooks, and Kenedy Counties, south Texas for approx $141.4 million ...
(2/25) ... Baker-Hughes reported U. S. rig count at 760, up 13 compared to last week (604 for gas and 156 for oil) ... Canada's rig count at 545, up 8 compared to last week ... Cross Timbers agreed to sell its natural gas properties in Crockett County, Texas to a private company for approx $43 million ...

(2/24) ... the DOE reported crude oil stocks down 0.3 MMB at 285.5 MMB, distillate stocks down 0.2 MMB at 99.3 MMB, and unleaded gasoline stocks down 2.9 MMB at 196.7 MMB ... U.S. Energy Secretary Richardson believed that "US stocks are extremely ... dangerously low" and "Oil prices are too high" announced during his visit to some OPEC members ... Amerada Hess agreed to acquire Statoil Energy Services (Alexandria, VA), a provider of natural gas and electricity to Maryland, New York, Pennsylvania, Virginia, and Washington DC ...
(2/23) ... API reported crude oil stocks up 1.65 MMB, distillate stocks down 1.04 MMB, unleaded gasoline stocks down 0.43 MMB, and refinery capacity down 0.1% at 86.5% compared to last week's ... AGA reported a withdrawal of 136 BCF from the natural gas storage, representing a decrease of 4.2% at 39.0% full ... Republican presidential candidate John McCain said he would give serious consideration to release crude from the Strategic Petroleum Reserve to ease the high oil price ...
(2/18) ... Baker-Hughes reported U. S. rig count at 773, up 11 compared to last week (620 for gas and 153 for oil) ... Canada's rig count at 537, down 12 compared to last week ...
(2/17) ... the catalytic cracking unit at Phillips Petroleum's refinery in Sweeney, TX caught fire and was shut down, the rest of the 250,000-B/D refinery was not affected ...
(2/16) ... AGA reported a withdrawal of 158 BCF from the natural gas storage, representing a decrease of 4.9% at 43.2% full ... the DOE reported crude oil stocks down 0.2 MMB at 285.8 MMB, distillate stocks down 0.1 MMB at 99.5 MMB, and unleaded gasoline stocks down 1.3 MMB at 199.6 MMB ... Conoco planned to acquire 20% interest in the ExxonMobil-operated Zafar Mashal exploration block in the Caspian Sea ...
(2/15) ... API reported crude oil stocks down 2.57 MMB, distillate stocks down 1.19 MMB, unleaded gasoline stocks down 3.79 MMB, and refinery capacity up 2.2% at 86.6% compared to last week's ... Bridgeline Holding L.P., a new joint venture formed by Texaco's Bridgeline and Enron North America's Louisiana Resources, combined with more than 1,000 miles of pipeline and 7 BCF of salt dome storage capacity ...
(2/14) ... Iraq announced reduction crude oil export by 10% or between 200,000 and 300,000 B/D ... Tipperary Corp. (Denver, CO) acquired additional interest in the Comet Ridge coalbed methane project in Queensland, Australia for approx $5.2 million in cash and stock ... Tipperary already had 61.25% ownership interest ...
(2/11) ... Baker-Hughes reported U. S. rig count at 762, up 5 compared to last week (616 for gas and 146 for oil) ... Canada's rig count at 549, up 4 compared to last week ... Sunoco's 24-inch pipeline leaked 1,600 barrels into a icy pond at John Heinz Wildlife Refuge near Philadelphia, Pennsylvania ... all has been recovered ... Saudi Arabia's crude export to U. S. buyers has been 21 to 23% less than contract volume in recent month and was announced to be 25% less in March ...
(2/10) ...
EOG Resources agreed to swap its properties in northwest Oklahoma and Texas for Burlington Resources' properties in southeast New Mexico and in west Texas ...
Sunoco MidAmerica/b's Toledo Refinery begun the 40-day scheduled maintenance, will affect half of the 70,000-B/D capacity ...

(2/9) ... AGA reported a withdrawal of 213 BCF from the natural gas storage, representing a decrease of 6.5% at 48.1% full ... the DOE reported crude oil stocks up 3.5 MMB at 286.0 MMB, distillate stocks down 6.9 MMB at 99.6 MMB, and unleaded gasoline stocks down 0.5 MMB at 200.9 MMB ... Nicor and Natural Gas Pipeline Co. of America, a subsidiary of Kinder Morgan, agreed to be equal partner in Horizon Pipeline ...
(2/8) ... API reported crude oil stocks up 0.69 MMB, distillate stocks down 5.93 MMB, unleaded gasoline stocks up 1.93 MMB, and refinery capacity down 3.3% at 84.4% compared to last week's ... OneOK (Tulsa, OK) agreeed to acquire natural gas gathering and processing business in Oklahoma, Kansas, and Texas together with the marketing and trading, storage, and pipeline systems in the mid-continent region from Kinder Morgan ...
(2/7) ... The Russian tanker was found to carry Iraqi crude and was taken to Oman and was unloaded ... Russia claimed that the crude was from Iran ... Patterson Energy (Snyder, TX) agreed to acquire High Valley Drilling to add 8 more drilling rigs to their fleet of 119 rigs ... Marathon acquire 15% interest in the Mer Profonde Nord Block offshore Republic of Congo from Elf Congo ... Calumet Lubricants (Indianapolis) agreed to acquire the oil refinery in Rouseville, northwest Pennsylvania from Pennzoil-Quaker State for wax production ... Apache and Repsol announced two discoveries in Egypt, one well in the 3-million acre West Mediterranean Concession test flowed 23.4 MMCF/D and 1,685 B/D from 8,160 feet, and one well in the 1.4-million acre East Bahariya Concession test flowed 1,520 B/D and 0.5 MMCF/D from 7,570 feet ...
(2/4) ... Baker-Hughes reported U. S. rig count at 757, up 2 compared to last week (624 for gas and 133 for oil) ... Canada's rig count at 545, down 13 compared to last week ... Russian Foreign Minister demanded the U. S. to release the tanker Volga-Neft-147 in the Persian Gulf as it was detained by U. S. Navy in suspecting of carrying Iraqi crude ...
(2/3) ... The oil spill from Bolivia's Transredes' (partially owned by Royal Dutch/Shell and Enron) pipeline was caused a flash flood that broke the pipeline ... El Paso Energy agreed to acquire 1,088-mile portion of Plains All American's 1,223-mile 30-inch pipeline from West Texas to Bakersfield, California for approx $129 million ...
(2/2) ... AGA reported a withdrawal of 242 BCF from the natural gas storage, representing a decrease of 7.5% at 54.6% full ... the DOE reported crude oil stocks down 8.4 MMB, distillate stocks down 4.1 MMB, and unleaded gasoline stocks up 0.6 MMB ... the Federal Trade Commission voted to reject the merger between BP Amoco and Atlantic Richfield citing impacts on gasoline prices ... Washington State Attorney General's Office also planned to file suit to stop that BP Amoco and Arco merger ... Transredes' pipeline leaked 5,000 barrels into the River Desaguardero which flows into Lake Uru and Popo in southern Bolivia ... the leg of BHP's production platform on the Liverpool Bay field, Irish Sea was damaged by collision from a supply vessel forcing operations shut down affecting 280 MMCF/D and 40,000 B/D, no restart date announced ...
(2/1) ... API reported crude oil stocks down 10.42 MMB, distillate stocks down 2.40 MMB, unleaded gasoline stocks up 1.41 MMB, and refinery capacity up 2.0% at 87.7% compared to last week's ... OneOK (Tulsa, OK) agreeed to acquire 8 gas processing plants and 7,000 miles of pipeline in Oklahoma, Kansas, and Texas from Dynegy for approx $307.7 million ... Silver Eagle Refining acquired Inland Refining, Inc. with refineries in Woods Cross and Roosevelt, Utah from Inland Resources for approx half a million plus assumption of debts ...
(1/31) ... El Paso Field Services agreed to acquire Texas mid-stream properties (8,500-mile pipeline and 9 processing plants, and natural gas storage facilities) from PG&E Natural Gas Energy Group for approx $903 million ...
(1/28) ... Baker-Hughes reported U. S. rig count at 755, down 22 compared to last week (624 for gas and 131 for oil) ... Canada's rig count at 558, up 28 compared to last week ... Petrobras was fined $28.4 million and paid in cash with 30% discount ... Argentina's YPF SA sold its interest in Crescendo Resources LP, a natural gas operator in Texas and Oklahoma, to BP Amoco and Apache for approx $620 million ... Dominion Resources and Consolidated Natural Gas completed the merger ... CONSOL Energy (Pittsburg, PA) agreed to acquire Buchanan Production Co. (with coalbed methane gas properties in southwest Virginia) and MCNIC Oakwood Gathering plus 50% interest in Cardinal States Gathering System from MCN Energy Group for approx $169 million ...
(1/27) ... AGA reported a withdrawal of 195 BCF from the natural gas storage, representing a decrease of 6.0% at 62.1% full ... US Energy Secretary Bill Richardson did not "anticipate triggering the sale of the Strategic Petroleum Reserve" ... which "should only used in a supply emergency and not to control price" ...
(1/26) ... the DOE reported crude oil stocks down 2.4 MMB at 290.9 MMB, distillate stocks down 8.2 MMB at 110.6 MMB, and unleaded gasoline stocks up 2.6 MMB at 200.8 MMB ... Celcius Energy Resources Ltd (Calgary) purchased all of the outstanding shares of Canor Energy Ltd, involving 800 wells mostly in Alberta, for approx C$87.5 million ...
(1/25) ... API reported crude oil stocks down 3.00 MMB, distillate stocks down 8.29 MMB, unleaded gasoline stocks up 2.16 MMB, and refinery capacity down 0.6% at 85.7% compared to last week's ... Brazil President Fernando Henrique Cardoso ordered Petrobras to pay the maximum fine of $28 million for the massive oil spill last week ... Representative John Sweeney, NY-R, aked President Clinton to "give a drawdown (of the Strategic Petroleum Reserve) serious consideration" by Kansas Governor Bill Graves of the Interstate Oil & Gas Compact Commission said that "the SPR was not designed as tool for market manipulation" ...
(1/24) ... The tanker Liaza, owned by the Abu Dhabi National Oil, sank 4 miles off the coast of the emirate of Abu Dhabi and spilled 980 tons of heavy crude oil ... Reliance Services Group's Phoenix Wireline Ltd (Calgary) signed the letter of intent to acquire all of the shares of Pro Wireline Ltd, a cased hole wireline and perforation company with 20 wireline trucks, for approx $3 million ...
(1/23) ... last Tuesday's 8,170-barrel oil spill from Petrobras' pipeline at the Reduc refinery into the Guanabara Bay is now 12 miles from Rio de Janeiro's southern beach district heading to the city's wellknown beaches such as the Copacabana ... Petrobras is installing a total of 76,000 feet of buoys to form a barrier in fighting against the worst ecological disaster in 25 years ... last Friday's 2,250-barrel oil spill into the Gulf of Mexico has been disperssed chemically, the spill happened when an 8-ton anchor on the TransOcean Sedco Forex semi-submersible rig dropped accidently onto Equilon's Poseidon subwater pipeline ...
(1/21) ... Baker-Hughes reported U. S. rig count at 777, down 4 compared to last week (637 for gas and 140 for oil) ... Canada's rig count at 530, up 15 compared to last week ... Noble Drilling and Lime Rock Partners formed a 50/50 joint venture to acquire the Ocean Stotian, a jack up rig in the North Sea for approx $32.7 million and then renamed to Noble Julie Robertson ... Petrobras signed with Coastal do Brasil to be 75% interest partner in exploring on a 2,550-acre onshore block ...
(1/20) ... spot price for #2 Heating Oil went above $1/gallon mark ... the DOE reported crude oil stocks at 293.3 MMB, down 0.1 MMB, and distillate stocks at 118.8 MMB, down 3.9 MMB ... Slade Energy (Calgary) agreed to acquire Nustar Energy for approx $18.5 million with stock and debt assumption, including 2 main properties in the Peter/Meyer area of Alberta ...
(1/19) ... AGA reported a withdrawal of 110 BCF from the natural gas storage, representing a decrease of 3.3% at 68.1% full ... API reported crude oil stocks up 0.81 MMB, distillate stocks down 3.70 MMB, unleaded gasoline stocks up 1.00 MMB, and refinery capacity up 0.5% at 86.3% compared to last week's ... the American Petroleum Institute announced that they consider a lawsuit unless the Interior Department's Minerals Management Service changed their proposal of setting the oil royalty based on market oil price rather than on companies' internal posted price ... Quicksilver Resources (Fort Worth, TX) signed a letter of intent to acquire oil and gas properties in Michigan and the stock of Terra Energy from CMS Energy (Dearborn, MI) ...
(1/18) ... Kerr-McGee (Oklahoma City, OK) completed the acquisition of Repsol S.A.'s interests in the UK sector of the North Sea ... El Paso Energy (Houston, TX) agreed to acquire Coastal for $16 billion in stock and assumed debt, creating the world's largest distributor of natural gas ... MDU Resources (Bismarck, ND) agreed to acquire Great Plains Natural Gas, a natural gas distributor in western Minnesota and southeastern North Dakota, with stock exchange ...
(1/14) ... Baker-Hughes reported U. S. rig count at 781, down 5 compared to last week (638 for gas and 143 for oil) ... Canada's rig count at 517, up 113 compared to last week ... Crude oil closing price is highest since the Gulf War ($32 in January 1991) ...
(1/13) ... Harken Energy (Houston, TX) acquired various interest in 9 exploration prospects in Texas and Mississippi from Benz Energy with subordinated notes having a face value of $12 million ...
(1/12) ... AGA reported a withdrawal of 115 BCF from the natural gas storage, representing a decrease of 3.6% at 71.4% full ... the DOE reported crude oil stocks at 293.4 MMB, up 3.1 MMB ... oil ministers from Saudi Arabia and Venezuela set up a surprise meeting in Amsterdam ... creating expectation of producing countries would extend the production cuts past March ...
(1/11) ... API reported crude oil stocks up 1.71 MMB, distillates stocks up 2.40 MMB, unleaded gasoline stocks up 4.08 MMB, and refinery capacity down 3.9% at 85.8% compared to last week's ... CMS Field Services (Dearborn, MI) sold partial interests in the Northern Header gathering system to Enron and Northern Border Partners and then planned to expand into a new company of Bighorn Gas Gathering LLC to serve the coalbed methane market in northeastern Wyoming's Powder River Basin ... EXCO Resources (Dallas, TX) completed the acquisition of Western Gas Resources' interest in the Black Lake Unit and processing and treating facilities, Natchitoches Parish, Louisiana for approx $7.8 million ... Apache, Chevron, Contour Energy, Sabco Oil & Gas, and Key Production announced their discovery well in the Main Pass 77 block in the Outer Continental Shelf of the Gulf of Mexico producing 19.3 MMCF/D and 1,500 B/D ...
(1/10) ... Millennium Pipeline Co., a joint venture between Equilon Pipeline and Black Hills Energy Resources and Black Hills Millennium Pipeline, to transport crude from Beaumont to Longview, TX in the existing 67,000-B/D pipeline ... Cabot Oil & Gas acquired 9 producing gas wells and 43,000 acres in the Green River Basin, Wyoming from Petral Exploration ... Barrett Resources (Denver, CO) completed the acquisition of the remaining 6% working interest in certain properties that it operates in the Piceance Basin, western Colorado for approx $10.7 million ...
(1/7) ... Baker-Hughes reported U. S. rig count at 786, up 15 compared to last week (627 for gas and 159 for oil) ... Canada's rig count at 404, up 108 compared to last week ... Luis Carlos Valenzuela, Colombia's minister of mines and energy, resigned amid charges that he pressured the State oil company Ecopetrol to sell 70 MMCF/D at "a very low price" to Promigas in which Corfivalle, his former company, owned 14% stake ... Promigas is the Colombia's local unit of Enron ...
(1/6) ... Canadian Occidental Petroleum acquired 50% working interest in Block AC/RL3 in the Bonaparte Basin, offshore Australia, from BHP Petroleum (Bass Strait) ... Texaco's appraisal well in deepwater offshore Nigeria was announced largest single find with 10,000 B/D flow rate from one of five zones in a 45,000-acre structure ... CMS Energy (Houston, TX) agreed to acquire Sea Robin Pipeline Co. with one BCF/D capacity pipeline system in the Gulf of Mexico from El Paso Energy ...
(1/5) ... AGA reported a withdrawal of 133 BCF from the natural gas storage, representing a decrease of 4.1% at 75.0% full ... the DOE reported crude oil stocks at 290.3 MMB, down 1.8 MMB, and distillates stocks at 119.7 MMB, down 3.4 MMB compared against last week's ... Duke Energy Field Services agreed to acquire 5 low pressure gathering systems and 6 cryogenic plants plus 2,300 miles of pipeline in Oklahoma from Conoco and Mitchell Energy & Development ...
(1/4) ... API reported crude oil stocks down 1.57 MMB, distillates stocks down 2.32 MMB, unleaded gasoline stocks down 0.48 MMB, and refinery capacity up 0.4% at 89.7% compared to last week's ... Duke Energy Gas Transmission agreed to acquire all of the stock of East Tennessee Natural Gas Co., a wholly owned subsidiary of El Paso Energy for approx $386.3 million ... TransCanada Pipelines Ltd and Gulf Canada Resources Ltd announced the discovery of a new gas field with their exploratory well tested at 40 MMCF/D in the Dutch sector of the North Sea ... 3TEC (Houston, TX) agreed to acquire Magellan Exploration LLC ... Dublin International Petroleum (Egypt), Drucker Petroleum, and GHP Exploration (West Gharib) announced the commencement of oil sales from the Hana field, onshore Gulf of Suez, Egypt at 3,000 B/D ...
(1/3) ... the petroleum exchange market is closed today ... Equitable Resources (Pittsburg, PA) agreed to acquire StatOil Energy's oil and gas properties in Kentucky, Ohio, Pennsylvania, Virginia, and West Virginia, for approx $630 million ... BP Amoco acquired StatOil Energy's 250,000-B/D Ula pipeline (connecting Ula and Gyda oil fields to the Ekofisk field in the North Sea) ... Vintage Petroleum (Tulsa, OK) acquired oil and gas properties in the Ventura Basin, California from Nuevo Energy for approx $29.6 million ... Calpine acquired Vintage's oil and gas properties in northern Sacramento Basin, California for approx $70 million ... Woodside Petroleum (Perth, Australia) acquired interests in 43 Gulf of Mexico blocks from USX-Marathon for approx $25.6 million ...

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