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IMPORTANT OIL & GAS NEWS

OIL & GAS NEWS ARCHIVE ... January - March 2001

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 current quarter

(3/30) ... Baker-Hughes reported U. S. rig count at 1,193, up 30 compared to last week (247 for oil and 946 for gas) ... and up from last year's of 775 ... Canada's rig count at 326, down 43 compared to last week ... and up from last year's of 244...
(3/28) ... AGA reported a withdrawal of 12 BCF from the natural gas storage at 676 BCF, representing 20.5% full, down 0.4% from last week ... the DOE reported crude oil stocks up 11.2 MMB at 301.5 MMB, distillate stocks down 2.8 MMB at 107.9 MMB, unleaded gasoline stocks down 1.9 MMB at 196.3 MMB compared to prior week's ... Vintage Petroleum (Tulsa, OK) plans to acquire Genesis Exploration Ltd (Calgary) with mainly gas production for $489 million plus $83 million debt ... Gasco Energy, Inc. is the new name of San Joaquin Resources, Inc.
(3/27) ... API reported crude oil stocks up 8.86 MMB, distillate stocks down 0.45 MMB, unleaded gasoline stocks down 1.59 MMB, and refinery capacity down 1.8% at 89.5% compared to prior week's ...
(3/23) ... Baker-Hughes reported U. S. rig count at 1,163, up 12 compared to last week (259 for oil and 904 for gas) ... and up from last year's of 768 ... Canada's rig count at 369, down 89 compared to last week ... and up from last year's of 367... Mexico announced to cut production by 40,000 B/D by April 1st ...
(3/21) ... AGA reported a withdrawal of 23 BCF from the natural gas storage at 688 BCF, representing 20.9% full, down 0.7% from last week ... the DOE reported crude oil stocks up 5.0 MMB at 290.3 MMB, distillate stocks down 3.6 MMB at 110.7 MMB, unleaded gasoline stocks down 3.4 MMB at 198.2 MMB compared to prior week's ...
(3/20) ... API reported crude oil stocks up 7.60 MMB, distillate stocks down 3.11 MMB, unleaded gasoline stocks down 1.67 MMB, and refinery capacity up 1.8% at 91.3% compared to prior week's ... Petrobras' P-36 oil platform sank ...
(3/16) ... Baker-Hughes reported U. S. rig count at 1,151, down 7 compared to last week (251 for oil and 900 for gas) ... and up from last year's of 764 ... Canada's rig count at 458, down 76 compared to last week ... and up from last year's of 434...
(3/15) ... Energen Resources (Birmingham, Atlanta) completed the acquisition of 46% ownership in the West Loving Field in the Permian Basin from the Estate of Charles B. Gillespie, Jr. for approx $31.8 million ... Energen now owns 87% of the field ... Three explosions on Petrobras' P-36 oil rig, world's biggest offshore platform, killed one worker with nine missing and damaged one pillar causing the rig to tilt 30 degrees with chance to sink ... it was producing 86,000 B/D and 46 MMCF/D ...
(3/14) ... AGA reported a withdrawal of 75 BCF from the natural gas storage at 711 BCF, representing 21.6% full, down 2.3% from last week and down 36.9% compared to last year's ... the DOE reported crude oil stocks up 8.0 MMB at 285.3 MMB, distillate stocks down 1.3 MMB at 114.3 MMB, unleaded gasoline stocks down 1.4 MMB at 201.6 MMB compared to prior week's ...
(3/13) ... API reported crude oil stocks up 9.51 MMB, distillate stocks down 0.54 MMB, unleaded gasoline stocks down 3.36 MMB, and refinery capacity down 1.7% at 89.5% compared to prior week's ...
(3/9) ... Baker-Hughes reported U. S. rig count at 1,158, up 7 compared to last week ... Canada's rig count at 534, down 6 compared to last week ...
(3/8) ... Barrett Resources rejected Shell's bid ... Ogden Corp. (New York) changed name to Covanta Energy Corp. ...
(3/7) ... AGA reported a withdrawal of 73 BCF from the natural gas storage at 786 BCF, representing 23.9% full, down 2.2% from last week and down 32.1% compared to last year's ... the DOE reported crude oil stocks down 2.7 MMB at 277.3 MMB, distillate stocks down 1.0 MMB at 115.6 MMB, unleaded gasoline stocks down 1.5 MMB at 203.0 MMB compared to prior week's ... Royal Dutch/Shell offered a cash bid of $2.2 billion for Barrett Resources (Denver, CO) with strong gas position in the Rocky Mountains ...
(3/6) ... API reported crude oil stocks down 3.89 MMB, distillate stocks down 0.78 MMB, unleaded gasoline stocks down 1.05 MMB, and refinery capacity down 0.1% at 91.2% compared to prior week's ...
(3/2) ... Baker-Hughes reported U. S. rig count at 1,151, up 30 compared to last week (241 for oil and 910 for gas) ... and up from last year's of 790 ... Canada's rig count at 540, down 13 compared to last week ... and up from last year's of 485...
(3/1) ... Plains All American Pipeline, L. P. agreed to acquire Murphy Oil's Canadian oil pipeline (450 miles) plus trucking and storage assets for approx $155 million ...
(2/28) ... AGA reported a withdrawal of 101 BCF from the natural gas storage at 859 BCF, representing 26.1% full, down 2.9% from last week and down 28.1% compared to last year's ... the DOE reported crude oil stocks up 2.9 MMB at 280.0 MMB, distillate stocks down 1.1 MMB at 116.6 MMB, unleaded gasoline stocks down 0.1 MMB at 204.5 MMB compared to prior week's ...
(2/27) ... API reported crude oil stocks up 2.24 MMB, distillate stocks down 0.99 MMB, unleaded gasoline stocks down 1.05 MMB, and refinery capacity up 1.2% at 91.3% compared to prior week's ...
(2/23) ... Baker-Hughes reported U. S. rig count at 1,121, down 26 compared to last week (236 for oil and 885 for gas) ... and up from last year's of 760 ... Canada's rig count at 553, up 3 compared to last week ... and up from last year's of 545...
(2/22) ... the DOE reported crude oil stocks down 11.9 MMB at 277.1 MMB, distillate stocks up 1.6 MMB at 117.7 MMB, unleaded gasoline stocks up 1.7 MMB at 204.6 MMB compared to prior week's ...
(2/21) ... AGA reported a withdrawal of 81 BCF from the natural gas storage at 960 BCF, representing 29.0% full, down 1.6% from last week ... API reported crude oil stocks down 12.01 MMB, distillate stocks up 2.46 MMB, unleaded gasoline stocks up 1.59 MMB, and refinery capacity up 0.3% at 90.1% compared to prior week's ...
(2/20) ... Amerada Hess agreed to acquire exploration and producing properties of LLOG Exploration in the Gulf of Mexico and onshore south Louisiana for approx $750 million ...
(2/19) ... Presidents' Day, U. S. market closed ... IPE Brent increased $.42/BBL to $27.31/BBL ...
(2/16) ... Baker-Hughes reported U. S. rig count at 1,147, up 10 compared to last week (242 for oil and 905 for gas) ... and up from last year's of 773 ... Canada's rig count at 550, down 15 compared to last week ... and up from last year's of 537... PrimeWest Energy Trust (Calgary) agreed to acquire all of the issued and outstanding common shares of Cypress Energy in a deal valued at $700 million including the pending Cypress' acquisition of Rancho Energy ...
(2/14) ... AGA reported a withdrawal of 95 BCF from the natural gas storage at 1,041 BCF, representing 32.0% full, down 3.0% from last week and 25.9% from last year ... the DOE reported crude oil stocks up 3.4 MMB at 289.0 MMB, distillate stocks up 0.8 MMB at 116.1 MMB, unleaded gasoline stocks down 0.9 MMB at 202.9 MMB ...
(2/13) ... API reported crude oil stocks up 4.08 MMB, distillate stocks up 0.94 MMB, unleaded gasoline stocks down 0.04 MMB, and refinery capacity down 0.1% at 89.8% compared to prior week's ... Anadarko agreed to acquire Berkley Petroleum Corp for approx $770 million in cash and to assume $250 million debt ...
(2/9) ... Baker-Hughes reported U. S. rig count at 1,137, down 1 compared to last week (234 for oil and 903 for gas) ... and up from last year's of 762 ... Canada's rig count at 565, down 14 compared to last week ... and up from last year's of 549...
(2/8) ... Calpine (San Jose, CA) agreed to acquire Encal Energy (Calgary) for approx $1.2 billion and assummed debt ... a day earlier, Calpine signed a $4.6 billion contract to sell to California's Department of Water Resources up to 1,000 megawatts of electricity over next 10 years ...
(2/7) ... AGA reported a withdrawal of 105 BCF from the natural gas storage at 1,136 BCF, representing 35.0% full, down 3.2% from last week and 27.3% from last year ... the DOE reported crude oil stocks up 3.0 MMB at 285.6 MMB, distillate stocks up 0.8 MMB at 115.3 MMB, unleaded gasoline stocks down 2.1 MMB at 203.8 MMB ...
(2/6) ... API reported crude oil stocks up 3.04 MMB, distillate stocks down 0.16 MMB, unleaded gasoline stocks down 3.16 MMB, and refinery capacity down 0.6% at 89.9% compared to prior week's ... Canadian Natural Resources agreed to acquire the Pelican Lake property from PanCanadian Petroleum ...
(2/5) ... Patterson Energy (Snyder, TX) agreed to acquire UTI Energy for approx $1.34 billion in stock, combining its fleet of 152 drilling rigs and UTI's 140 rigs ...
(2/4) ... Phillips Petroleum agreed to acquire Tosco for approx $7 billion in stock transaction, the combined company would be the 2nd largest U. S. oil refiner and 3rd largest U. S. marketer ...
(2/2) ... Baker-Hughes reported U. S. rig count at 1,138, up 22 compared to last week (238 for oil and 900 for gas) ... and up from last year's of 757 ... AEC Oil & Gas (USA), a wholly owned subsidiary of Alberta Energy Company, Ltd. completed the acquisition of Ballard Petroleum (Billings, Montana) for approx $225 million ... Burlington Resources has to pay $8.5 million to the U. S. government to settle claims of royalty underpay from the federal leases ... other companies has paid a total of $400 million to the government ...
(1/31) ... AGA reported a withdrawal of 128 BCF from the natural gas storage at 1,241 BCF, representing 38.2% full, down 3.9% from last week and 30.1% from last year ... the DOE reported crude oil stocks down 3.6 MMB at 282.6 MMB, distillate stocks down 1.7 MMB at 114.5 MMB, unleaded gasoline stocks up 5.2 MMB at 205.9 MMB ... Halliburton agreed to sell 95% of its Dresser Equipment Group (acquired in 1998 from Dresser Industries) for approx $1.1 billion to a group including First Reserve Corp. and Odyssey Investment Partners ...
(1/29) ... API reported crude oil stocks down 5.63 MMB, distillate stocks down 0.43 MMB, unleaded gasoline stocks up 6.64 MMB, and refinery capacity up 0.5% at 90.5% compared to prior week's ...
(1/26) ... Baker-Hughes reported U. S. rig count at 1,116, down 12 compared to last week (237 for oil and 889 for gas) ... and up from last year's of 755 ...
(1/25) ... Bellwhether Exploration (Houston, TX) agreed to acquire Bargo Energy (Adna, OK) with $60 million cash and $80 million in stock ...
(1/24) ... AGA reported a withdrawal of 90 BCF from the natural gas storage at 1,369 BCF, representing 42.1% full, down 2.8% from last week ... the DOE reported crude oil stocks down 1.1 MMB at 286.2 MMB, distillate stocks up 1.0 MMB at 116.2 MMB, unleaded gasoline stocks up 2.0 MMB at 200.7 MMB ...
(1/23) ... API reported crude oil stocks down 1.99 MMB, distillate stocks down 0.83 MMB, unleaded gasoline stocks up 2.21 MMB, and refinery capacity down 1.7% at 90.0% compared to prior week's ...
(1/22) ... Ascent Energy (Dallas, TX) agreed to acquire Pontotoc Production (Adna, OK) with cash and stock ...
(1/19) ... Baker-Hughes reported U. S. rig count at 1,128, up 7 compared to last week (241 for oil and 887 for gas) ... and up from last year's of 775 ... Canada's rig count at 561, up 15 compared to last week ... and up from last year's of 530...
(1/18) ... the DOE reported crude oil stocks down 1.0 MMB at 287.3 MMB, distillate stocks down 1.6 MMB at 115.2 MMB, unleaded gasoline stocks up 3.0 MMB at 198.7 MMB ... Ocean Energy (Houston, TX) agreed to acquire all of the outstanding shares of Texoil with cash and follow up with a cash merger to acquire all remaining shares ... Denbury Resources (Dallas, TX) agreed to acquire from Airgas (Radnor, PA) the CO2 reserves, production, and facilities near Jackson, MS including 10 wells and 183-mile pipeline for approx $42 million ...
(1/17) ... API reported crude oil stocks up 1.98 MMB, distillate stocks down 3.25 MMB, unleaded gasoline stocks down 0.49 MMB, and refinery capacity up 0.1% at 91.7% compared to prior week's ... AGA reported a withdrawal of 103 BCF from the natural gas storage at 1,459 BCF, representing 44.9% full, down 3.2% from last week ...
(1/16) ... Chesapeake Energy Corp. (Oklahoma City, OK) completed the acquisition of Gothic Energy with stocks in a deal worth $345 million including $203 million debt ...
(1/15) ... Brent crude closing increased $0.43/BBL at $26.18/BBL ...
(1/12) ... Baker-Hughes reported U. S. rig count at 1,121, up 14 compared to last week (235 for oil and 886 for gas) ... and up from last year's of 781 ... Canada's rig count at 546, up 57 compared to last week ... and up from last year's of 517...
(1/10) ... AGA reported a withdrawal of 167 BCF from the natural gas storage at 1,562 BCF, representing 48.1% full, down 5.1% from last week ... the DOE reported crude oil stocks down 0.4 MMB at 288.3 MMB, distillate stocks up 0.7 MMB at 116.8 MMB, unleaded gasoline stocks up 1.9 MMB at 195.7 MMB ...
(1/9) ... API reported crude oil stocks down 0.59 MMB, distillate stocks up 0.03 MMB, unleaded gasoline stocks up 4.61 MMB, and refinery capacity down 1.4% at 91.6% compared to prior week's ... Texaco acquired EnerVest San Juan Acquisition LP from EnerVest Management Partners (Houston, TX) for approx $121 million, properties are mainly coalbed methane in the San Juan Basin ...
(1/8) ... Precision Drilling (Calgary) acquired BecField Drilling Services and will integrated into its subsidiary of Computalog ...
(1/5) ... Baker-Hughes reported U. S. rig count at 1,107, down 7 compared to last week (245 for oil and 862 for gas) ... and up from last year's of 786 ... Canada's rig count at 489, up 167 compared to last week ... and up from last year's of 404.. OPEC announced plan to cut production between 1.5 and 2.0 million barrels per day ...
(1/4) ... Prize Energy (Dallas, TX) agreed to acquire oil and gas properties in West Texas, West Oklahoma, South Texas and South Louisiana from Apache for approx $65 million ...
(1/3) ... API reported crude oil stocks up 0.06 MMB, distillate stocks up 3.52 MMB, unleaded gasoline stocks down 2.68 MMB, and refinery capacity down 0.4% at 93.0% compared to prior week's ... AGA reported a withdrawal of 209 BCF from the natural gas storage at 1,729 BCF, representing 53.2% full, down 6.4% from last week ... Cross Timbers closed the acquisition of oil and gas properties in East Texas and Louisiana from Herd Producing (Tyler, Texas) ...
(1/2) ... Atlas America, a wholly owned subsidiary of Resources America agreed to acquire all oil and gas producing reserves and acreage from Kingston Oil for approx $3.7 million ... also Atlas Pipeline Partners to acquire the gas gathering system for approx $2.8 million ... Piedmont Natural Gas agreed to acquire the natural gas distribution system assets in Gaffney, South Carolina from Atmos Energy for approx $6.6 million ...

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