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

To: Lois R who wrote (14813)	3/14/1998 7:58:00 AM
From: Teddy	Read Replies (2) \| Respond to of 95453

Lois, that is a great report. Thanks. Here's my news contributions for the day: HOUSTON/INTERNATIONAL: Offshore rig counts are not being impacted by soft oil prices, according to Offshore Data Services' most recent weekly mobile offshore rig count. In the U.S. Gulf of Mexico, the contracted rig count is unchanged from last week at 171. One rig moved into the area causing a slight decline in fleet utilization. This week, the Gulf rig fleet now numbers 176 total rigs; with 171 under contract, utilization is 97.2 percent. The European offshore rig count increased by one rig compared to last week. This week, 106 of the 110 mobile offshore drilling rigs in the area are under contract. European offshore rig fleet utilization is 96.4 percent. The worldwide rig count recorded no net change week-to-week, the one-rig increase in activity offshore Europe being offset by a one-rig decline in another area. This week, 586 of the world's 610 mobile offshore drilling rigs remain under contract, and worldwide offshore rig utilization continues at 96.1 percent. UK: Two development wells will be drilled in Premier Oil's Chestnut field in UK Block 22/2A. The program is contingent on Premier lining up a semi for the program. (Teddy's question: does this mean the demand for semis is so high they might not be able to find one? Dayrates should stay high.)

To: Lois R who wrote (14813)	3/14/1998 10:53:00 AM
From: Stephen L. Smith	Read Replies (1) \| Respond to of 95453

Lois -- do you have the AOL keyword for the AOL Oil Industry Breakfast Forum? Thanks!

To: Lois R who wrote (14813)	3/14/1998 11:55:00 AM
From: TCGNJ	Read Replies (1) \| Respond to of 95453

Lois and thread, Good series of articles in the March '98 issue of Scientific American about the coming oil crunch-----supply won't be able to keep up with demand 10 years from now. Only abstracts available from the Web site, but well worth reading if you can get a paper copy. TCG sciam.com ____________________________________________________________________ QUICK ARTICLE SUMMARIES MARCH 1998 SPECIAL REPORT: PREVENTING THE NEXT OIL CRUNCH Global production of oil from conventional sources is likely to peak and decline permanently during the next decade, according to the most thoughtful analyses. In these articles, industry experts explain why and describe technologies that could cushion against the shock of a new energy crisis. THE END OF CHEAP OIL Colin J. Campbell and Jean H. LaherrŠre Forecasts about the abundance of oil are usually warped by inconsistent definitions of "reserves." In truth, every year for the past two decades the industry has pumped more oil than it has discovered, and production will soon be unable to keep up with rising demand. MINING FOR OIL Richard L. George Tarry sands and shales in Canada alone hold more than 300 billion barrels of petroleum, more than Saudi Arabia's reserves. Some companies can now extract that oil economically, while addressing environmental concerns over open-pit mining. OIL PRODUCTION IN THE 21ST CENTURY Roger N. Anderson Tracking the flow of underground crude, pressurizing dead wells and steering drills horizontally will help keep current oil fields alive. Meanwhile better engineering will open reserves under the deep ocean. LIQUID FUELS FROM NATURAL GAS Safaa A. Fouda Liquefied as gasoline, methanol or diesel fuel, natural gas can buffer the coming decline in crude oil. Technological improvements are making this conversion cheaper and more efficient.