Shell Is in Talks to Sell $1.3 Billion in Gulf Coast Assets
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
Does Private Equity Have a Future in Deepwater Gulf of Mexico?
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
The Energy 202: Industry group says hurricanes bolster case for expanding offshore drilling
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
Oil Spill at Center of Legal Battle Worse Than Earlier Estimated, Study Finds
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 Signs Anti-Offshore Drilling Law
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
California Fights Trump’s Offshore Oil Drilling Plans
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
New Gulf Of Mexico Leases Raise Concerns
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
Good results from U.S. offshore auction, but expectations low
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
Oil companies make few bids in U.S. offshore lease auction
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
After Billions in Blowouts, Mega Oil and Gas Projects Are Back
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
Is Deepwater Drilling More Profitable Than Shale?
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
Shell hails bounceback towards deepwater drilling
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
Gulf Of Mexico Oil Lease Auction To Test Response To Trump-Era Regulations
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 Offshore Production: Summary for First Quarter 2018
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
Senators plea for continued offshore oil and gas safety
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
U.S. puts Gulf of Mexico oil and gas acreage up for auction
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
Feature: US Gulf of Mexico still seen as attractive, but players are changing
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
Gulf Of Mexico Production Expected To Hit Record High
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
Trump just erased an Obama-era policy to protect the oceans
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
Deepwater Horizon led to new protections for US waters. Trump just repealed them.
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
Big Oil eyes U.S. minority groups to build offshore drilling support
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
Trump erases Obama-era offshore rules
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 Last Oil Frontier In The Gulf Of Mexico
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
GoM: First Quarter 2018, Production Summary
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 Starts Deepwater Gulf Of Mexico Oil Project Ahead Of Schedule
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
Why New Jersey is leading the resistance to Trump’s offshore drilling plan
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 Makes Large Deepwater Discovery In Gulf Of Mexico
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
What will it take to re-start offshore drilling?
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
Defense and energy can co-exist offshore, industry says
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 Next Big Trend In Offshore Oil & Gas
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
Robots And Drones Are Changing The Offshore Oil Industry
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
CEO of ‘Reset’ Deepwater Operator Sees Better Days for GOM
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
In U.S. Gulf, robots, drones take on dangerous offshore oil work
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
100 Offshore Projects To Be Sanctioned In 2018
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
Acquisition contributes to Transocean loss
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
Shell Wants Deepwater Breakevens Below $40
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
Offshore operators trying to make projects feasible at $50/bbl oil
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
Offshore Drillers Get Some, Not All, They Sought in Trump Reform
The Trump administration is moving to relax some offshore drilling requirements imposed in response to the Deepwater Horizon disaster but is rebuffing the oil industry’s plea for bigger changes. Proposed Continue Reading
Shell touts offshore momentum in quarterly report
Adding more opportunities in the offshore sector is part of the effort to retool the evolving portfolio for Royal Dutch Shell, its chief financial officer said. Shell is the latest Continue Reading
Progress noted for BP’s Mad Dog oil giant offshore U.S.
Work for BP is geared toward linking one of the largest fields in the U.S. Gulf of Mexico to a floating production unit, a services company said. “We are committed Continue Reading
Shell to Deploy New Design in Mississippi Canyon
Shell, Statoil to proceed with eight-well subsea project southeast of New Orleans. Shell Offshore, Inc. will proceed with the Vito deep-water development in the U.S. Gulf of Mexico. The Royal Continue Reading
U.S. offshore policy draws industry criticism
The United States can’t stay competitive in the offshore oil and gas market without incentives like reduced royalty rates, an industry trade group said. Going against policy recommendations, U.S. Interior Continue Reading
Is Trump’s Offshore Drilling Plan A Disaster?
The Trump administration has had to rein in expectations for offshore oil drilling, with an aggressive sales pitch and boastful rhetoric mostly being met with tepid interest from the oil Continue Reading
U.S. Gulf of Mexico crude oil production to continue at record highs through 2019
U.S. Energy Information Administration, Short-Term Energy Outlook U.S. crude oil production in the Federal Gulf of Mexico (GOM) increased slightly in 2017, reaching 1.65 million b/d, the highest annual level Continue Reading
Oil giants stay in their own backyards in U.S. auction
The Trump administration heralded the government’s sale last month of U.S. drilling leases in the Gulf of Mexico as a bellwether. If that is the case, a Reuters analysis of Continue Reading
Big Oil Shuns Unexplored Acreage In Largest U.S Oil & Gas Lease Sale
The world’s biggest oil companies preferred to bid on areas close to existing infrastructure and largely stayed out of unexplored acreage in last month’s lease sale in the Gulf of Continue Reading
Oil giants stay in their own backyards in U.S. auction
The Trump administration heralded the government’s sale last month of U.S. drilling leases in the Gulf of Mexico as a bellwether. If that is the case, a Reuters analysis of Continue Reading
Offshore Oil Closes In On Shale
Offshore crude oil extraction, including deepwater, is closing in on shale in terms of cost thanks to new production technologies, a senior Chevron executive said at an industry event, as Continue Reading
Trump Rollbacks Target Offshore Rules ‘Written With Human Blood’
A dozen miles off the coast, on a rusty, aging platform, workers in hard hats and overalls spend their days extracting oil and gas from the ocean floor before retreating Continue Reading
Gulf Oil Sale No Turning Point for Offshore Drilling
The Trump administration’s efforts to jump-start offshore exploration got off to a weak start as a big auction of oil and gas leases in the Gulf of Mexico drew few Continue Reading