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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Ronald J. Clark who wrote (79605)	11/21/2000 9:19:03 AM
From: Tommaso	Respond to of 95453

I don't think any of it is hedged, but one might go back and study the EDGAR annual/quarterly reports again. If I notice anything I will post. Meanwhile, cold weather hanging on despite last week's forecasts: grads.iges.org

To: Ronald J. Clark who wrote (79605)	11/21/2000 9:19:36 AM
From: Big Dog	Read Replies (1) \| Respond to of 95453

Headline on Drudge: Severe Energy Crises Feared... Yep. 2001 - The Crisis Got Oil? big

To: Ronald J. Clark who wrote (79605)	11/21/2000 9:31:43 AM
From: Tommaso	Respond to of 95453

This sounds like unhedged: From OXY's latest 10-Q: The third quarter 2000 United States net natural gas price realization was 99 percent of New York Mercantile Exchange (NYMEX) prices compared to 90 percent for the same period in 1999. From information on oxy.com web site: California (Elk Hills, THUMS) The acquisition of Elk Hills in 1998 significantly strengthened the company’s oil and gas portfolio, adding long-life, low-risk reserves with growth potential in production and exploration. Elk Hills also provides cornerstone operations from which the company is expanding into other opportunities in the oil- and gas-rich basins of California. Occidental is the largest independent oil and gas producer in California. Occidental is aggressively developing Elk Hills. During 1999, the company drilled 84 oil and gas wells and completed the first phase of a three-dimensional seismic survey covering approximately 50 percent of the field. Gas processing capability at Elk Hills was expanded by debottlenecking existing facilities, which allowed gas sales to increase by 93 percent over the 1998 level. During 1999, Occidental had net production from Elk Hills of 47,600 barrels per day of liquids and 287 million cubic feet per day of natural gas. At year-end 1999, Occidental’s proved reserves in Elk Hills were 301 million barrels of liquids and 654 billion cubic feet of natural gas, which represents 65 percent of domestic oil reserves and 36 percent of domestic gas reserves. By applying advanced technology to develop the field, Occidental’s estimated recoverable reserves at Elk Hills are ultimately expected to exceed 708 million barrels of liquids and 1.6 trillion cubic feet of natural gas -- or approximately 1 billion barrels of oil equivalent. Production also is expected to increase as field development and exploration programs are executed. In 1999, gross liquids production was 61,000 barrels per day, and gross gas sales averaged 368 million cubic feet per day. The purchase of THUMS, a well-run and profitable operation in Long Beach, gave Occidental an additional 30,000 barrels per day of net production and 98 million barrels of net reserves. Occidental also has significantly increased its land position in California to aproximately 800,000 acres, most of it in the oil-prone Central Valley. Much of that is under-explored, and, over the next few years, Occidental intends to conduct an active exploration program to tap its potential.