Daily Oil & Energy News
The Trump administration’s fourth major auction for oil and gas leases in the U.S. Gulf of Mexico received $244 million in high bids on Wednesday, reflecting an uptick in interest Continue Reading
The Trump administration is likely to open up portions of the Atlantic to oil and gas drilling despite opposition from East Coast states, a U.S. Interior Department official suggested in Continue Reading
The Trump administration is set to unleash its offshore, five-year oil drilling plan within weeks, Reuters reported , quoting an unnamed source in the know. The plan is being prepared Continue Reading
The Trump administration’s revised five-year program to expand offshore drilling in most federal waters will be released “in the coming weeks,” an Interior Department official said on Wednesday, after months Continue Reading
The Bureau of Land Management has scheduled a region-wide oil and gas lease sale for the Gulf of Mexico, in which it will offer a total 14,696 blocks spanning 78 Continue Reading
Global deepwater liquid production is set to jump by 700,000 bpd from 2018 to reach a record-high of 10.3 million bpd in 2019, thanks to new fields coming on stream Continue Reading
A federal court on Friday blocked the Trump administration from issuing any permits to conduct seismic testing for offshore oil and natural gas drilling during the partial government shutdown. Judge Continue Reading
Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola Continue Reading
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector Continue Reading
Oil majors will spend US$208 billion on offshore drilling and other oilfield services this year, but not all sector players are positioned to benefit from the higher spending, Bloomberg reported Continue Reading
Earlier this decade, BP and the Gulf of Mexico was an awkward and uneasy collocation for the UK oil supermajor after the 2010 Deepwater Horizon disaster. Nearly a decade and Continue Reading
The supermajor has given the greenlight to the Atlantis Phase 3 development, which is expected to boost production by 38,000 boepd. BP has approved a $1.3 billion expansion for the Continue Reading
Attorneys general from nine U.S. states sued the Trump administration on Thursday to stop future seismic tests for oil and gas deposits off the East Coast, joining a lawsuit from Continue Reading
Activity booms, first-ever production and key sanctions are some of the factors leading to a grand year for the US Gulf of Mexico, analysts say. The U.S. Gulf of Mexico Continue Reading
Attorneys general from nine coastal states are intervening in a lawsuit aimed at blocking seismic surveys that could help pinpoint oil under Atlantic waters but also imperil whales and dolphins. The Continue Reading
Siemens last week announced the launch of the first hybrid power plant for offshore rigs combined with energy storage featuring lithium-ion batteries. The company first unveiled the Blue Vault power Continue Reading
The Trump administration is taking a major step toward allowing a first-in-a-generation seismic search for oil and gas under Atlantic waters. (Bloomberg) — The Trump administration is taking a major Continue Reading
Chevron’s operated Big Foot deepwater project starts crude oil and natural gas production. Chevron has announced that its operated Big Foot deepwater project, located in the U.S. Gulf of Mexico, Continue Reading
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