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

To: waverider who wrote (20334)	4/24/1998 8:06:00 PM
From: pz	Respond to of 95453

Friday April 24, 4:06 pm Eastern Time Caracas stocks still slips on oil CARACAS, April 24 (Reuters) - Caracas stocks slipped for a fourth day running Friday on continuing interest rate hikes, falling oil prices and political uncertainty, dealers said. The (^IBC - news) exchange index shed 1.88 percent to close at 6,640 points with 14 shares falling, 18 stable and six up, according to preliminary exchange data. ''The exchange is still being affected by the same unfavourable conditions for several days, above all the oil price fall,'' said Hector Perez, broker at Inversiones y Valores Union. Rising interest rates were also drawing capital away from the stock market and into monetary stabilization bills, dealers said, which were sold at a 37.8 percent rate Friday. Trading volume on the exchange dipped to 3.8 billion bolivars ($7 million) on 490 deals for 30 million shares. Oil prices so far this year have averaged $12.09 per barrel, according to the Ministry of Energy and Mines Friday, nearly a dollar below the $13 budget price reference. Political uncertainty, particularly centering on traditional parties and their economic programmes, also helped keep investors away, dealers said. More Quotes and News: IBC INDEX (Caracas Stock Exchange) (^IBC - news) Related News Categories: US Market News, international

To: waverider who wrote (20334)	4/24/1998 8:08:00 PM
From: pz	Respond to of 95453

hursday April 23, 11:46 pm Eastern Time U.S. oil, natgas well drilling up 13 pct in Q1-API WASHINGTON, April 23 (Reuters) - The number of U.S. completed wells drilled in search of oil and natural gas totaled 7,059 during the first quarter, up 13 percent or 804 wells, from the same period a year ago, the American Petroleum Institute said Thursday. Natural gas well completions jumped 23 percent to 3,169, oil wells increased 10 percent to 2,661 and dry holes were down 2 percent at 1,228, the API said in its latest quarterly drilling statistics report. ''These increases in completions reflect the fact that drilling rig activity last year was up 21 percent from 1996,'' the API said. Separately, the amount of well footage drilled during the quarter increased by 4 million feet, or 12 percent, from last year to 38.4 million feet, according to the trade group.

To: waverider who wrote (20334)	4/24/1998 8:12:00 PM
From: pz	Respond to of 95453

Maybe they are just too good at finding oil now....gggg Thursday April 23, 4:43 am Eastern Time Woodside well flows up to 6,500 bpd oil PERTH, April 23 (Reuters) - The Dockrell-2 appraisal well offshore Western Australia flowed up to 6,500 barrels per day (bpd) of 33 degree API oil and 6.6 million cubic feet per day (mmscfd) gas in tests, Woodside Petroleum Ltd said on Thursday. The maximum flow was through a 72/64-inch choke from the perforated intervals 2,997-2,999 metres and 3,001-3,005 metres within the oil column, Woodside said. This test flow is continuing, it said. The well also flowed 3,819 bpd oil and 2.83 mmscfd gas through a 36/64-inch choke and 6,213 bpd and 5.2 mmscfd gas through a 72/64-inch choke in tests that have been completed. Woodside said wireline logging was completed on April 16 and provisional interpretation indicated a 65 metre gross gas column and a 12 metre oil column within late Triassic to early Jurassic sandstones. The well is in permit WA-6-L in the Dampier Sub-basin of the North West Shelf, about 135 km northwest of Dampier. It is eight km northeast of Dockrell-1 which encountered gas and oil accumulations in 1973, Woodside said. Dockrell-2 was spudded on March 30 and reached total depth of 3,495 metres on April 12. Woodside, the operator, has a one-sixth stake in WA-6-L. The other equal one-sixth participants are The Broken Hill Pty Co Ltd (BHP.AX), The British Petroleum Co Plc (quote from Yahoo! UK & Ireland: BP.L), Chevron Corp (CHV - news), Japan Australia LNG (MiMi) Pty Ltd and Royal Dutch/Shell Group (RD.AS) (quote from Yahoo! UK & Ireland: SHEL.L). More Quotes and News: Chevron Corp (NYSE:CHV - news) Related News Categories: international