Unocal Replaces 101 Percent of Production

Tuesday, August 31, 1999
Unocal Corporation replaced 101 percent of its worldwide crude oil and natural gas production (excluding sales and price-related revisions) during 1998 with new proved reserves as the company focused on adding value and re-energizing its domestic U.S. exploration program. "In the U.S., our Spirit Energy 76 unit recorded more than 30 discoveries in the Gulf of Mexico shelf and onshore area and added 65 MMBOE in proved reserves through discoveries and extensions, improved recovery and purchases," said Roger C. Beach, Unocal chairman and CEO. Spirit Energy 76 replaced 108 percent of its production (excluding sales and price-related revisions), particularly as a result of a 64-percent exploration success rate on the Gulf of Mexico shelf during the year. Spirit Energy's preliminary finding, development and acquisition costs (excluding price-related revisions) for new reserves in 1998 on the GOM shelf and onshore were $7.26 per BOE.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Wärtsilä Environmental Efficiency for Hybrid UK Ferry

A new ferry being built at the Cemre shipyard in Turkey for UK operator Wightlink will feature a comprehensive range of modern Wärtsilä equipment and systems to

Ship of the Year Award for NYK Vessel

Japan's first LNG-fueled ship, Sakigake, which is a tugboat owned by NYK has been recognized with a Technology Special Award at the 2015 Ship of the Year Awards

Finland's Wartsila Sticks to 2016 Outlook

Finnish ship engine and power plant maker Wartsila reported weaker-than-expected quarterly profit and order intake on Wednesday. Wartsila cited tight competition

Offshore

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to

Seacat Services Sends Freedom to Race Bank

Seacat Freedom, the latest addition to Seacat Services’ 12-strong fleet, has been dispatched to DONG Energy’s Race Bank offshore wind project following the boat’s

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0663 sec (15 req/sec)