Updates

Sticking to its end of the year in service deadline, Duke Energy Gas Transmission (DEGT) said it has successfully installed, inspected and tested 1,666 feet of Patriot Extension natural gas pipeline under the New River in Wythe County, VA, and is continuing construction on a 53-mile section of the pipeline moving east from the river.

Falling behind its initial downtime prediction, Transocean Inc. said last week that its deepwater drillship Discoverer Enterprise remains on location in the U.S. Gulf of Mexico at zero dayrate while continuing the investigation with respect to the riser separation which occurred on May 21.

Burlington Resources Inc. said last week that it is raising its first quarter production guidance and has resumed repurchasing shares of its common stock under an existing $1 billion repurchase authorization.

Burlington Resources Inc. said Thursday that it is upping its first quarter production guidance from the outlook provided earlier in the year. The company also reported that it has resumed repurchasing shares of its common stock under an existing $1 billion repurchase authorization.

Irving, TX-based Magnum Hunter Resources Inc. estimated last week that it will lose about 4 Bcfe of production in the second half of the year from a combination of property divestitures and storm related shut-ins. The company said total production for the month of August 2002 averaged 228.2 MMcfe/d.

Irving, TX-based Magnum Hunter Resources Inc. estimated Tuesday that it will lose about 4 Bcfe of production in the second half of the year from a combination of property divestitures and storm related shut-ins. The company said total production for the month of August 2002 averaged 228.2 MMcfe/d.

Ocean Energy Inc. said last week that it has decided to cease exploration activity on two international oil and natural gas blocks and use the freed up resources on more profitable endeavors. In addition, the Houston-based independent energy company updated its second half guidance for production volumes.

Ocean Energy Inc. said Monday that it has decided to cease exploration activity on two international oil and natural gas blocks and use the freed up resources on more profitable endeavors. In addition, the Houston-based independent energy company updated its second half guidance for production volumes.

BP said hydrocarbon production growth for the third quarter is expected to be around 5% — lower than previously projected due to “operational problems” during the month of August associated with some of the company’s assets. BP provided an update of the outlook statement in its half-year results contained in its 6-K filing last week with the U.S. Securities and Exchange Commission.