Barrels

Nearly 60 Bcf of natural gas and 10 million barrels of oil have been unavailable from the Outer Continental Shelf in the Gulf of Mexico for U.S. consumption because of shut-ins due to Hurricanes Isidore and Lili, the Minerals Management Service (MMS) said Thursday.

Louis Dreyfus Natural Gas Corp. has announced a 23% increase inreserves, to 1.8 Tcf equivalent in 2000, including 1.6 Tcf ofnatural gas and 33 million barrels of crude oil. The year-endpresent value, discounted at 10%, of estimated future net revenuesfrom proved reserves was $3.7 billion, a $2.7 billion increase overthe prior year-end reserve value. Drilling and acquisitionactivities added 479 Bcfe or 350% of production. Proved reserveadditions from drilling were 275 Bcfe, which replaced over 200% ofproduction at an estimated finding cost of $.87 per Mcfe, andproved reserve acquisitions added 204 Bcfe at a cost of $.82 perMcfe. Louis Dreyfus drilled 461 wells in 2000, with an overallsuccess rate of 93%.

With 1.6 billion barrels of oil reserves and an unknown quantityof deep-water natural gas reserves scheduled for production in 2003in the Gulf of Mexico, BP Amoco is getting a little nervous aboutlining up some means of transportation to shore.

BP Amoco has 1.6 billion barrels of oil reserves and an unknownquantity of deep-water natural gas reserves scheduled forproduction in 2003 in the Gulf of Mexico but currently there are nomeans of transportation to shore. The company said yesterday it hasformed a new Gulf of Mexico deepwater oil and gas transportationproject team to investigate its options to bring to shore thereserves in the southern Mississippi Canyon, the southern AtwaterValley and the Green Canyon areas of the Gulf.

Amoco’s Hugoton Jayhawk gas processing plant in Ulysses, KS,recently began operations with capability to process 450 MMcf/d andrecover up to 33,000 barrels of gas liquids per day. HugotonJayhawk currently is processing about 400 MMcf/d, of which 280MMcf/d is supplied by Amoco-operated wells.