Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: diana g who wrote (15586)	3/19/1998 8:24:00 PM
From: sand wedge	Read Replies (1) \| Respond to of 95453

blood is thicker then water, or beer for that matter

To: diana g who wrote (15586)	3/26/1998 10:10:00 PM
From: Teddy	Read Replies (1) \| Respond to of 95453

NEWS snips from Offshore Data ( With Teddy Notes &#169) U.S. GULF: Jackup NOBLE JOHNNY HOFFMAN arrived at High Island Block A-308 and has driven 30-inch pipe to 502 feet prior to spudding the No. 1 exploration well for Petsec Energy. The well be will directionally drilled from the surface location in 200 feet waters and will test a series of stacked seismic amplitudes below a measured depth of 10,000 feet within a 1,100-acre, three-way fault closure. Petsec said the High Island Block A-307/A-308 leases have a net unrisked reserve potential of 175 Bcf of gas equivalent as mapped from 3-D seismic. The High Island Block A-308 No. 1 well will test about 50 Bcfe of this potential. A small E&P beginning a project in shallow water GOM? Must be a misprint. Ensco jackups received the following contract extensions: ENSCO 81's contract was extended for three months by Coastal Oil and Gas beginning April 1. ENSCO 94's contract was extended for a three-month period by Mobil, effective April 12. Interesting, they both waited until the contracts were almost up before extending them. They must have been watching CNBC to see if Norway was cutting production. 12. U.S. GULF: Shell expects to resume production from its Mensa field soon. Semi TRANSOCEAN RICHARDSON is installing the upper tree on the field's A-3 well now. When installation and testing of the A-3 well is completed, the rig will begin installation of the upper portion of the A-1 tree. The field was shut-in earlier this year after cracks were discovered in the connector body between the upper and lower tree sections. I'm still trying to figure out why they are planting trees in an oil field. I think it has something to do with preventing global warming. I hope it works, one more warm winter and oil will be less than $5. Several industry sources report that Marathon Oil is close to signing a contract with Sedco Forex that will result in construction of a new Sedco Forex Express 2000-design semi. An announcement is expected soon. Marathon, as part of the MOM Group that includes Oryx and Murphy, already has deepwater drilling time lined up with Noble Drilling's EVA converted semi AMOS RUMMER. Drilling will begin around mid-1999. Now they need 2 semis? What are they going to do with them if the King of Norway doesn't go along with the production cuts? Vastar Resources reportedly is about to tender for construction of a new semi to support its deepwater exploration program. Vastar recently made a discovery at its deepwater King prospect in Mississippi Canyon Block 764. However, the rig that drilled that well, Diamond Offshore semi OCEAN VICTORY, was damaged in an engine room fire prior to completing drilling operations. Vastar has the rig under contract until late 2000 with options remaining, but will have to wait until late June for repairs on the semi to be completed before resuming exploratory work. Another 2 semi project. Do they really need a second rig or are they just trying to "keep up with the Jones'?" Maybe it is a spare in case they have another fire. VENEZUELA: Conoco will spud the first of two planned wells in the West Gulf of Paria exploration block this summer, if a drill barge is available. Conoco expects the wells to cost between $30 million and $40 million. The first well will be spud in the southeast corner of the block. "...if a drill barge is available." If they are lucky enough to locate an available one, will it be closer to $30 or $40 million? What if the only available rig is $41 million?