October 2000
News & Resources

Companies in the news

Oct. 2000 Vol. 221 No. 10  Company News  WellBid, Inc., and eNersection combined the companies under the name Wellogix, Inc. Hallibu

Oct. 2000 Vol. 221 No. 10 
Company News 

WellBid, Inc., and eNersection combined the companies under the name Wellogix, Inc.

Halliburton Energy Services established a team of experts in magnetic resonance imaging logging to further enhance its ongoing work in nuclear magnetic resonance (NMR) services.

Dominion Exploration & Production, Inc., acquired the operating interests of Suemaur Exploration & Production, LLC and several partners in three Texas Gulf Coast natural gas fields.

Lundin Oil AB entered into an agreement with Edison Gas, to bid jointly on new areas offered by the Libyan National Oil Corp.

Fig 1The 16,000-ton Veba Hanze GBS was loaded on board the Mighty Servant 3 Hyundai Heavy Industries construction yard in Ulsan by skidding the structure on three skidbeams over the side of the vessel. After a six-week voyage, the structure arrived in Rotterdam, where it will be prepared for towing to the Hanze field on the Dutch Continental Shelf. The 8,000-ton integrated production deck will leave the Hyundai Heavy Industries construction yard in early 2001.

Noble Affiliates Inc. subsidiary Samedan recompleted the previously shut-in West Delta No. C-4, now flowing more than 13 MMcfgd and 1,200 bopd.

BP announced today that it has agreed to sell some UK southern North Sea gas assets to Tullow Oil.

American International Petroleum Corp. plans to renew exploration activity on its 4.7-million-acre License 953 in northwestern Kazakhstan. Due to recent interpretations of electric well logs from the Begesh 1 well, it will re-enter the well to test an Upper Jurassic interval known to be oil productive in the Karakuduk field, located about 50 miles to the southwest. The Begesh No.1 well, previously drilled, logged, partially tested and then suspended by the Soviets for future evaluation, continues to leak light sweet crude oil.

Mart Resources, Inc., completed its acquisition of Interbasin Resources Ltd., which owns 100% working interest in Nigeria’s 100,000-acre offshore License 310. New 154 sq mi of 3-D and 345 mi of 2-D data revealed a number of significant prospects. The two largest structural closures are in shallow water with 3-D coverage on trend with, and similar to, adjacent fields. Drilling is slated for late this year or early 2001.

Prize Energy Inc.’s LSD 16 gas well discovery in the Makawa area of northern Saskatchewan tested 5.07 MMcfgd.

Ninotsminda Oil Company agreed with AES Gardabani to explore and develop gas prospects on CanArgo’s Ninotsminda license in Georgia. Under the agreement, AES Gardabani will earn a 50% interest in identified prospects at the Cretaceous stratigraphic level by funding a portion of the cost of a three-well exploration program. The agreement mandates a long term gas sales contract to units 9 & 10 of the Gardabani thermal power plant, recently acquired by AES. NOC already has an existing contract to supply gas to the Gardabani plant from the shallower Middle Eocene reservoir in its producing Ninotsminda field. Recently acquired seismic data identified several gas prospects.

Phillips Petroleum Company will develop Peng Lai 19-3 field in Block 11/05 in China’s Bohai Bay. Initial production is slated for first-quarter 2002 at a rate of 35,000 to 40,000 bopd. Phase II will begin in late 2004 or 2005.

Enterprise Oil acquired all of R&B Falcon Corp.’s interests in the U.S. Gulf of Mexico, including its 50% interest in the Boomvang field development and Gyrfalcon field, and interests in 19 other deepwater GOM exploration blocks. Boomvang field’s estimated reserves are about 70 to100 million boe. First production is slated for the first half of 2002, using a Spar platform with a 30,000 bopd and 200 MMcfgd capacity. Gyrfalcon is a gas field with reserves of 3 million boe produced through a single well tied back to Shell’s nearby Boxer platform.

Berkley Petroleum Corp. drilled and completed an additional four gas wells at Wildhay-Wild River in Alberta. The firm now has 25 MMcfgd of net new gas production to bring onstream this year from the area. The company estimates that approximately 50 Bcf of net additional gas reserves have also been added in 2000 at Wildhay-Wild River. Its Adsett well was drilled and cased as a Slave Point gas well and will be tested onstream this year. Further drilling and completion activities will continue at Adsett, during the summer and fall, prior to the planned large winter program. Two wells drilled in May will add significant net new gas reserves to the Adsett complex. The Berkley Turner Valley well in Alberta, a step-out to the 1998 discovery well, was successfully drilled horizontally in the Mississippian Turner Valley gas reservoir and will be tested during the third quarter and tied in along with the original discovery well to the Quirk Creek gas plant. Turner Valley will be the second of three large Foothills gas discoveries to come onstream. In southeast Saskatchewan, a continuous drilling program is planned at Hardy as this new Ordovician light oil trend is rapidly exploited. Plans for the tie-in of California’s Berkley No. 1 and the whipstock of Bellevue 1-17R continue on schedule.

Kerr-McGee Gryphon Limited got the nod to proceed with its $400 million gas development project in the Skene field in the North Sea from UK’s Department of Trade and Industry. Skene is a gas condensate field located on Block 9/19 in 380 feet of water. Up to 180 MMcfgd and 25,000 bpd is slated to begin in early 2002. Estimated recoverable reserves are 95 million boe.

Bowridge Resource Group Inc. agreed to acquire Toran Power & Equipment Inc., of Leduc, Alberta.

Anadarko increased its 2000 capital expenditure budget to $1.5 billion, a 34% increase over the combined total of Anadarko’s original capex budget of $766 and the $350 million remaining from Union Pacific Resources.

Rockwell Automation and HIMA Paul Hildebrandt GmbH will jointly develop and produce customized safety-specific controllers and software.

Gas Jack, Inc., changed its name to Compressco, Inc. WO

Connect with World Oil
Connect with World Oil, the upstream industry's most trusted source of forecast data, industry trends, and insights into operational and technological advances.