Florida Gas Transmission said a third-party contractor damaged its Texas mainline near compressor station six, requiring one to three days of repair work. The line had been transporting about 300,000 Dth/d. FGT also declared an overage alert in its market area Tuesday with a 25% tolerance.
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Cal Dive Pays Premium to Acquire Remington’s Offshore Reserves
Subsea contractor Cal Dive International Inc. last week said it will buy Remington Oil and Gas Corp., long considered a takeover target, in a deal valued at about $1.4 billion. Cal Dive, based in Houston, is paying the Dallas-based independent a premium of more than 22% to build its presence in the Gulf of Mexico and to retain key employees.
Gulf of Mexico’s Drilling Market Up Slightly in July
Houston-based oil and gas drilling contractor GlobalSantaFe Corp. reported that the company’s worldwide SCORE, or Summary of Current Offshore Rig Economics, for July 2002 was up from the previous month by 1.7%. In the Gulf of Mexico, July’s SCORE was 33.1, compared with 30.1 for June, a gain of almost 10%. However, compared with 2001, the Gulf is off 37.1%, and is down 44.3% from five years ago.
Gulf of Mexico Rig Declines Slow Down
Houston-based international drilling contractor GlobalSantaFe on Monday reported that declines in the Gulf of Mexico’s Summary of Current Offshore Rig Economics, or SCORE, “have slowed considerably,” with the international SCORE near its highest level since early 1999. Overall, the SCORE for February 2002 was down from January by 1.1%.
Softness In Gulf Of Mexico Lowers Rig Market
Offshore drilling contractor Global Marine reported last week that the company’s worldwide Summary of Current Offshore Rig Economics, or SCORE, for August 2001 was down 3.2% from July because of a softening in Gulf of Mexico day rates that overshadowed the strength of the international offshore rig markets.
Softness In Gulf Of Mexico Lowers Global Marine’s SCORE
Offshore drilling contractor Global Marine reported Monday that the company’s worldwide Summary of Current Offshore Rig Economics, or SCORE, for August 2001 was down 3.2% from July because of a softening in Gulf of Mexico day rates that overshadowed the strength of the international offshore rig markets. In the Gulf of Mexico, the change was more dramatic, down 11.6% from a month earlier, and down 21.3% from a year ago.
Industry Briefs
Reliant Energy Thermal Systems, an unregulated affiliate ofReliant Energy’s Retail Group, is providing energy managementservices to the Astrodomain Complex for SMG/LMI, contractor to theHarris County (TX) Management Corp. The stadium and exhibitioncomplex is made up of Houston’s Astrodome, Astrohall andAstroArena. SMG/LMI contracted with Reliant Energy Thermal Systemsfor an initial three-year period to provide operation andmaintenance of the cooling and heating plants, including HVAC(heating, ventilation, and air-conditioning) systems; maintenanceof the plumbing, electrical, and lighting systems; and utilitymanagement and new plant consulting services. The effective date ofthe contract was April 1, with renewal options. Other terms are notbeing disclosed.
Maritimes Clears the Way for Halifax Route
Maritimes & Northeast Pipeline has begun clearing theHalifax Lateral pipeline route. The clearing contractor began workon Feb. 29 in various locations along the lateral route that havereceived National Energy Board approval. Clearing is scheduled tobe complete in April.
Texaco Employment Falling On Low Oil Prices
Low oil prices prompted Texaco to cut about 1,000 out of 8,000upstream employee and contractor jobs worldwide as part of areorganization designed to increase emphasis on long-termproduction and reserve growth and streamline costs and improvecompetitiveness. Cost savings are projected to be $200 million peryear, and the reorganization is expected to be completed by the endof the first quarter of next year.