Daily Oil & Energy News
BP starts up its Thunder Horse Northwest Expansion in deepwater Gulf of Mexico months ahead of schedule. BP’s Thunder Horse Northwest Expansion offshore Gulf of Mexico is starting four months Continue Reading
Technology is increasingly becoming more important for oilfield services companies to gain an edge in what’s still a recovering market. Technology is increasingly becoming more important for oilfield services companies Continue Reading
BP said on Thursday that it had started up ahead of schedule its Thunder Horse Northwest Expansion project in deepwater Gulf of Mexico, adding 30,000 bpd to the Thunder Horse Continue Reading
The offshore drilling segment of the energy industry was among the hardest hit by the 2014 downturn. Many went under, and those that did survive were on their last legs Continue Reading
TGS and Schlumberger announce a new multiclient nodal seismic project in the US Gulf of Mexico (GOM). TGS and Schlumberger have announced a new multiclient nodal seismic project in the Continue Reading
U.S. Gulf of Mexico oil and gas production is returning to near normal levels following Hurricane Michael, data from an offshore regulator showed on Sunday, with oil output off 15.8 Continue Reading
Crude and Condensate Reserves BOEM remaining C&C reserve estimates for GoM increased by 649 mmbbls for 2016 (i.e. to 31st December 2016). This was 112% reserve replacement and followed a Continue Reading
Exxon Mobil Corp ( XOM.N ) is exploring the sale of many of its U.S. Gulf of Mexico assets, as higher prices prompt the world’s largest publicly traded oil company Continue Reading
The latest step taken by the Trump administration in supporting the energy industry has been the relaxation of safety rule for offshore oil and gas production, put in place following Continue Reading
Crude and Condensate Reserves BOEM remaining C&C reserve estimates for GoM increased by 649 mmbbls for 2016 (i.e. to 31st December 2016). This was 112% reserve replacement and followed a Continue Reading
“We knew it was going to cause a stir,” said Australian marine scientist Dr. Robert McCauley. McCauley was referring to the results of an experiment testing the impacts of a Continue Reading
The Trump administration this March will again offer 78 million acres in the Gulf of Mexico for oil and gas leasing, the Interior Department announced Tuesday. Receive daily email alerts, Continue Reading
Highlights 3 million boe/d output expected by 2020 Fabrication yards still massively underutilized Plans North Sea sales to ‘high grade’ portfolio London — Total expects its deepwater oil and gas Continue Reading
Royal Dutch Shell Plc, shedding assets to pay for its takeover of BG Group Plc, is in talks to sell its interest in a Gulf of Mexico oilfield to Focus Continue Reading
New analysis by Wood Mackenzie takes a look at private equity in the US Gulf of Mexico, exploring operational strategies and potential risks. While majors and independents alike have had Continue Reading
Hurricane season is in full swing — and it’s throwing into the spotlight an ongoing debate between industry and environmental groups over expanding offshore drilling. The National Ocean Industries Association Continue Reading
Between 250 and 700 barrels of oil per day are leaking into the Gulf at the the site where Taylor Energy Co.’s oil platform collapsed in Hurricane Ivan in 2004, Continue Reading
California Governor Jerry Brown signed into law this weekend a bill that aims to make drilling for oil and gas off the state’s coast unprofitable. CBS reports that the bill, Continue Reading
Earlier this week, the California State Assembly passed SB 884 , a bill that if passed would prohibit the States Lands Commission from allowing any new wharfs, piers, pipelines and Continue Reading
The Trump administration on Wednesday held a new auction for offshore drilling in the Gulf of Mexico (GOM), yielding some $178 million in winning bids, a slight improvement from its Continue Reading
Results from a U.S. auction for drilling rights in the Gulf of Mexico showed companies are willing to spend again, but expectations were low, experts said. An auction Wednesday for Continue Reading
NEW YORK (Reuters) – Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing Continue Reading
Investors are about to find out whether the world’s largest oil companies have learned their lesson from $80 billion of cost blowouts in major projects during the era of $100 Continue Reading
Royal Dutch Shell says that offshore drilling is now more competitive than onshore shale drilling, upending what has become conventional wisdom since the 2014 oil market meltdown. The downturn was Continue Reading
Royal Dutch Shell is doubling down on drilling for oil far beneath the oceans, as the energy group eyes a cash bonanza from traditional deepwater projects despite a growing focus Continue Reading
A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies’ appetite for acreage after the Trump administration left royalty rates for deepwater parcels Continue Reading
UK C&C It was expected by many, me included but more importantly UKOGA and a couple of the bigger oil and gas consultancies, that UK offshore oil production would increase Continue Reading
A group of Democratic senators said eroding federal rules on offshore oil and gas safety means the government is ignoring lessons from Deepwater Horizon. The U.S. Interior Department’s Bureau of Continue Reading
The U.S. government put millions of acres on the table for drillers looking to tap into the billions of barrels of oil yet to be discovered offshore. Deputy Interior Secretary David Continue Reading
Even as onshore shale has become the gleam in the US oil industry’s eye, the Gulf of Mexico remains a solid, if less glamorous, member of the domestic production profile Continue Reading
While the U.S. shale production in the Permian has been grabbing most of the market and media attention over the past two years, the Gulf of Mexico has been quietly Continue Reading
A large plume of smoke rising from BP’s Deepwater Horizon offshore oil rig in the Gulf of Mexico in April 2010. (Gerald Herbert/AP) President Trump on Wednesday ended an eight-year-old Continue Reading
The Deepwater Horizon offshore drilling rig exploded on April 20, 2010, killing 11 workers. Gas erupted into a massive fireball, and then the rig gushed 4.9 million barrels of crude Continue Reading
The largest U.S. oil and gas lobby group is seeking to convince Hispanic and black communities to support the Trump administration’s proposed expansion of offshore drilling, arguing it would create Continue Reading
Executive action from the U.S. president eases offshore energy planning burdens, an industry group said, though critics said it was a war on oceans. President Donald Trump signed an executive Continue Reading
The U.S. Gulf of Mexico, (GoM) has been a tremendous resource that has largely been developed over the last thirty years or so. One by one, companies ventured into deep Continue Reading
A Guest Post by George Kaplan Crude and Condensate BOEM has March 2018 production at 1696 kbpd, which is down 1% month-on-month and 4% year-on-year (March 2017 was the peak Continue Reading
Shell said on Thursday that it had started early production at a deepwater subsea development in the U.S. Gulf of Mexico a year ahead of schedule and at a forward-looking, Continue Reading
The Trump administration’s bid to expand offshore drilling sounds like a sweet deal when the oil and gas industry sells it: more jobs, increased local revenue and possibly an energy Continue Reading
Shell has made a large deepwater exploration discovery in the U.S. Gulf of Mexico, just 13 miles from its Appomattox project that is expected to start production by the end Continue Reading
As global crude oil has hit the $80/b mark, the industry is now wondering if there is a magic price that would jump-start the offshore sector which is lagging an Continue Reading
Oil and gas operations in parts of the U.S. Gulf of Mexico can coexist with national defense priorities, industry supporters said of a Pentagon review. The U.S. Department of Defense Continue Reading
The offshore sector will increasingly focus on natural gas instead of oil over the next few decades, while policy support and technology improvements could also see offshore investment shift in Continue Reading
Boost efficiency and cut costs—the oil industry’s favorite buzzwords during the latest downturn—continue to be the key talking points of the companies in the post-oil-price-crash world. The rise of technology Continue Reading
Fieldwood Energy has big plans after restructuring and recapitalization. The overall increase in crude oil prices notwithstanding, a “new attitude” toward U.S. Gulf of Mexico (GOM) operators among federal government Continue Reading
At BP’s massive Thunder Horse oil platform in the U.S. Gulf of Mexico, a dog-sized robot called Maggie uses magnetic tracks to creep along pipes connecting the giant oil facility Continue Reading
The current tailwind in the oil market is likely to propel 100 new offshore projects to be sanctioned in 2018, according to Rystad Energy. This compares to only 60 projects Continue Reading
A net loss for the first quarter was attributed in part to the acquisition of rival Songa Offshore, which Transocean said supported its rig fleet. The rig company, which has Continue Reading
Even though Brent Crude prices hit $75 a barrel on Monday, Shell continues to stick to disciplined spending and wants deepwater projects to break even at $40 a barrel or Continue Reading
Operators of offshore oil and gas projects have slashed costs during the oil-price slump, but they also are working to avoid the boom-bust cycles of the past, panelists told an Continue Reading