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Vol. 224 No. 7 |
Three industry veterans with more than 90 years of combined experience have formed StratCom Advisors LLC, based in Kingwood, Texas. The new management consulting firm offers on-demand strategic commodity advisory services, including energy supply/marketing, enterprise risk management and corporate governance issues. J. Michael Walker is president and CEO, while J.C. Whorton, Jr., will operate out of Denver and focus on E&P firms. Jerry E. Brown will be in Tampa, focusing on market information services.
Harken Energy Corp., a Houston-based E&P company, said that its international operating subsidiary, Global Energy Development plc, perforated and tested the Upper Mirador zone from 8,263 to 8,267 ft in its Cajaro 1 well on Global’s Cajaro Association Contract in Colombia. The Upper Mirador zone, which contains what appears to be 20 ft of producible hydrocarbon thickness, tested at over 700 bopd and indicated a medium-density crude.
Petro-Soft Systems Ltd., Calgary, Canada, has successfully designed and implemented the Phoenix Technical Reserves Management System for ExxonMobil. This completes a two-year project with ExxonMobil to integrate and replace systems employed by the corporation’s predecessor companies with an Oracle-based reserves-management solution.
Matador Petroleum Corp. said that Tom Brown, Inc., will acquire the privately held company for $373 million in cash and assumed debt. Matador is an independent energy company engaged in onshore oil and gas exploration, production, development and acquisition in the southwestern US. Tom Brown is a Denver, Colorado-based independent energy company.
Petrobras received approval from the Argentinean government to acquire 58.62% of the shares of Perez Companc S.A., which holds 98.21% in Pecom Energía S.A. The names of the companies are now changed to Petrobras Energía Participaciones S.A. and Petrobras Energía S.A., respectively. Pecom was established in 1946 by the Perez Companies family as a shipping company, which later evolved into an oil and gas firm. It has 22 producing oil fields in Argentina and 15 in other countries. In 2003, the company plans to invest $300 million primarily in oil development, and an additional $2.2 billion over the next five years.
Fugro N.V., Boeing, and Oceaneering International, Inc., announced that the jointly developed Echo Ranger, an unmanned autonomous underwater vehicle (AUV) that performs deepwater surveying, has entered service in the Gulf of Mexico. The three companies have formed an alliance to provide deepwater AUV survey services around the world employing this new system. The vehicle operates at water depths to 3,000 m (10,000 ft) and is a cost-effective alternative for oil and gas companies collecting deepwater swath bathymetry, surveying natural and man-made seafloor features, and profiling sub-bottom marine sediments.
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The Echo Ranger AUV enters Gulf of Mexico service.
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The Houston Exploration Company has announced its first shallow-water, deep-shelf gas discovery at High Island 115. The #1 well was drilled to 19,800 ft and tested 20 MMcfgd. First production is anticipated for fourth-quarter 2003, pending construction of facilities. The company has a 50% working interest in the project. The well is operated by El Paso Production Oil & Gas Co. as a part of a joint-venture agreement. Houston Exploration has 118 leases along the continental shelf of the Gulf of Mexico and plans five more deep-shelf wells in 2003.
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