USA Lease Sale Cancellation Leaves Industry in Limbo
The move leaves the industry in limbo, according to Fitch Solutions. The cancellation of lease sales 258 (Cook Inlet) and 259, 261 (Gulf of Mexico) that were planned under the Continue Reading
No Offshore Oil Auctions Devastating To Americans, NOIA Says
NOIA President Erik Milito has issued a response to the decision not to move forward with planned GoM and Alaska oil and gas lease sales. National Ocean Industries Association President Continue Reading
Biden Scraps Offshore Oil Auctions
The Biden administration is scrapping planned auctions of drilling rights in the Gulf of Mexico and Alaska’s Cook Inlet. The Biden administration is scrapping planned auctions of drilling rights in Continue Reading
U.S. Offshore Oil Boom Is No Cure For Global Supply Crunch
U.S. offshore oil production is booming as operators are bringing new platforms online. Years of underinvestment in drilling activity have taken their toll on the offshore industry. Goldman Sachs expects Continue Reading
Why Are the Majority of Leased Offshore Federal Waters Non-Producing?
Rigzone speaks to the Department of the Interior, the National Ocean Industries Association, the Energy Workforce and Technology Council and Fitch Solutions. According to the Department of the Interior (DOI), Continue Reading
13-Year Shell Journey to First Oil Shows Why USA Output Is Flat
Offshore projects cost billions and rarely come online in less than a decade. Questioned by U.S. lawmakers this week, chief executives from the nation’s biggest oil companies took great pains Continue Reading
Growing Risk of Leasing Program Approval Delay
There is a growing risk of a delay in the approval of the next five-year Outer Continental Shelf oil and gas leasing program, according to Fitch Solutions. There is a Continue Reading
USA Government Comments on Gulf of Mexico Lease Program
The U.S. Department of the Interior sent a statement after Rigzone asked if its five-year program for leasing in the Gulf of Mexico would lapse. The U.S. Department of the Continue Reading
A Crisis Could be Brewing in the Gulf of Mexico
The next five-year offshore leasing program must be in place by July 1 – but it’s well behind schedule. Jeopardized American energy security and a cost of thousands of U.S. Continue Reading
Analysis: Biden gets climate win with court loss on Gulf of Mexico oil leases
A U.S. judge’s surprise decision this week to annul the Biden administration’s first Gulf of Mexico oil lease auction because of its climate change impact has raised questions about the Continue Reading
Federal Judge Annuls Massive Gulf Of Mexico Lease Sale
Federal judge: Bureau of Ocean Energy Management broke the environmental law Plaintiffs, including the Sierra Club, Earthjustice, the Center for Biological Diversity, and Friends of the Earth, praised the ruling Continue Reading
The Biden administration said its drilling-lease spree in the Gulf was court-ordered. It wasn’t.
Last month, the Biden administration held the largest-ever auction of oil and gas drilling leases in the Gulf of Mexico’s history, claiming it was obligated to hold the sale due Continue Reading
Giant Argos Platform Arrives To GOM Offshore Home (VIDEO)
BP’s massive Argos platform has arrived at its final location in the U.S. Gulf of Mexico following a journey from a yard in Texas. BP’s massive Argos platform has arrived Continue Reading
Shell Makes Another Discovery In GOM Perdido Corridor
Shell has made a material discovery at the Blacktip North prospect in the deepwater of the U.S. Gulf of Mexico. Oil supermajor Shell has made a material discovery at the Continue Reading
Biden Gulf of Mexico Lease Sale Results Are In
A total of 33 companies participated in the lease sale, submitting $198,511,834 in total bids. The Bureau of Ocean Energy Management (BOEM) has announced that Gulf of Mexico Lease Sale Continue Reading
Breakeven Price For New Oil Projects Drops In 2021
Rystad: Costs within the upstream sector have come down considerably in 2021 New oil becomes more competitive and significantly cheaper to produce Deepwater and oil sands producers have significantly lowered Continue Reading
U.S. Gulf of Mexico auction attracts pent up demand from oil drillers
The Biden administration’s auction of oil drilling rights in the U.S. Gulf of Mexico generated more than $190 million in high bids, bringing in more money for taxpayers than any Continue Reading
ExxonMobil bids big in Texas shallow waters during US Gulf Lease Sale 257
Highlights Major made offers for nearly 100 offshore Texas blocks BP bulking up in Norphlet play but also remote Lloyd Ridge Small players active on shallow-water Continental Shelf ExxonMobil looks Continue Reading
Biden Gulf of Mexico Lease Sale Results Are In
A total of 33 companies participated in the lease sale, submitting $198,511,834 in total bids. The Bureau of Ocean Energy Management (BOEM) has announced that Gulf of Mexico Lease Sale Continue Reading
Maersk Drilling Merging With Noble Corporation
Maersk Drilling and Noble Corporation have agreed to create a combined company with a fleet of 20 floaters and 19 jack-up rigs. Two offshore drilling contractors, Maersk Drilling and Noble Continue Reading
Shell flags $400 mln hurricane hit, but boost from soaring prices
Royal Dutch Shell (RDSa.L) warned on Thursday of a $400 million hit to third-quarter earnings from the damage caused by August’s Hurricane Ida. However, in an update ahead of quarterly Continue Reading
Hurricane Ida devastation lingers in Louisiana 1 month later
The land on which Audrey Trufant Salvant’s home sits in the small Louisiana town of Ironton has become an island in a sea of mud and snake-infested marsh grass. Nearby Continue Reading
16 Percent Of Crude Oil Production In Gulf Of Mexico Still Offline: BSEE
The aftermath of Hurricane Ida is still curtailing U.S. crude oil production, with 16% of crude oil production in the Gulf of Mexico still offline as of Thursday, according to Continue Reading
Ida Storm Damage Expected to Cost Insurers at Least $31 Billion
Ida is poised to join Katrina, Sandy, Harvey and Irma on the list of the top five costliest hurricanes as measured by insured losses. Estimates of Ida’s damage have continued to Continue Reading
U.S. hurricane damage to cut Shell oil output through year-end
Royal Dutch Shell (RDSa.L) , the largest U.S. Gulf of Mexico oil producer, said damage to offshore transfer facilities from Hurricane Ida will cut production into early next year, slashing Continue Reading
U.S. Gulf has 30% of oil production still shut after Hurricane Ida
Energy companies on Wednesday kept 30% of U.S. Gulf of Mexico crude oil production shut, or 537,193 barrels, according to regulator Bureau of Safety and Environmental Enforcement (BSEE), more than Continue Reading
U.S. Coast Guard To Investigate Over 350 Potential Oil Spills Caused By Ida
Hurricane Ida has left a lasting wake of destruction and chaos along the Gulf Coast. The hurricane, which was a category 4 storm when it initially made landfall in Louisiana Continue Reading
Hurricanes Raise Risk Of Oil Spills In Gulf Of Mexico
As the latest strong storm that passed through the U.S. Gulf of Mexico showed, hurricanes are testing the resilience of offshore oil and gas facilities and pipelines. Hurricane Ida made Continue Reading
Ida-Damaged Oil Rig May Take Rest of 2021 to Repair
Noble Corp. said repairing a deepwater oil rig damaged by Hurricane Ida may take the rest of this year and wipe out 16% of expected profit. Noble’s Globetrotter II rig Continue Reading
Offshore operators face big Ida losses as insurers trim cover
Offshore energy firms are likely to face greater financial losses from Hurricane Ida than from previous storms in the Gulf of Mexico, because of reduced coverage offered by insurers, risk Continue Reading
Gulf Oil Spill Shows Risk From 18,000 Miles of Abandoned Pipe
An oil spill unleashed by Hurricane Ida is highlighting longstanding concerns about the more than 18,000 miles of decommissioned pipelines that still snake through the Gulf of Mexico, even though Continue Reading
Oil Spill in the Gulf of Mexico: What We Know
Divers searching for the origin of a substantial oil spill in the Gulf of Mexico — one of several spotted off Louisiana’s coast after Hurricane Ida — have discovered three Continue Reading
Shell Returning Workers To GOM Oil Platform
Shell redeploying workers evacuated due to Hurricane Ida to the Enchilada/Salsa asset but around 80 percent of its production in the Gulf of Mexico is still offline. Supermajor Shell has Continue Reading
Talos Energy says oil leaking into in U.S. Gulf of Mexico has slowed
U.S. offshore oil producer Talos Energy said on Sunday that the rate of oil flowing from a spill of unknown origin in the U.S. Gulf of Mexico following Hurricane Ida Continue Reading
Chevron returns essential crews to all six of its US Gulf of Mexico platforms, no significant damage seen: company
Chevron has redeployed essential crews to its six operated US Gulf of Mexico platforms that were evacuated last week when Hurricane Ida raced toward the Louisiana coast, the company said Continue Reading
Noble Declares Force Majeure On Drillship Damaged By Hurricane Ida
Noble Corporation gives force majeure notice to the customer of the Noble Globetrotter II ultra-deepwater drillship due to sustained damages during Hurricane Ida. Offshore rig owner Noble Corporation has given Continue Reading
Uneven recovery for U.S. offshore energy production after Ida
U.S. Gulf Coast energy companies on Friday advanced the recovery from Hurricane Ida on a few fronts but slipped elsewhere as lack of crews, power and fuel reversed earlier production Continue Reading
Port Fourchon Sees Weeks for Ida Recovery
Port Fourchon, America’s biggest base supporting the U.S. Gulf of Mexico offshore oil industry, appears to have largely withstood a powerful punch left by Hurricane Ida after the Category 4 Continue Reading
US offshore output, LNG terminal utilization steady as storms move through Gulf
Tankers in path of Fred, Grace could see delays Chevron moves some workers from platforms Back-to-back storms passing through the Gulf of Mexico could delay LNG tankers reaching US terminals Continue Reading
Shell greenlights Gulf of Mexico ‘Whale’ oilfield project
Royal Dutch Shell (RDSa.L) announced plans on Monday to develop a new oilfield in the Gulf of Mexico, its first major project to get the go-ahead since a Dutch court Continue Reading
Shell Makes Deepwater Discovery
Shell Makes Significant Deepwater Gulf of Mexico Find Shell Offshore Inc, a subsidiary of Royal Dutch Shell, announced a “significant” discovery at the Leopard prospect in the deepwater U.S. Gulf Continue Reading
Gulf Of Mexico Oil & Gas Pipelines Need Better Safety Regulations
The U.S. Department of the Interior lacks a robust oversight process to monitor and ensure the safety and integrity of some 8,600 miles of active offshore oil and gas pipelines Continue Reading
Offshore Oil Is Much Greener Than You May Think
Offshore oil has built some well-deserved bad rap over the decades because of oil spills, and it has frequently been the specific target of protest action from environmentalists. But if Continue Reading
Offshore Oil & Gas Spending Set To Jump To $44 Billion In 2021
After last year’s lowest spending on new field developments in 30 years, the offshore oil and gas sector is set to significantly increase capital expenditures this year to around US$44 Continue Reading
Chevron’s Gulf of Mexico operation may be most at risk from Biden oil and gas policy proposals
More restrictive oil and gas leasing, permitting and drilling on US federal lands and waters proposed by the Biden administration cast a wide net, but lack critical details and the Continue Reading
Biden Ban Could Hit Deepwater GOM Hardest
President Joe Biden’s temporary halt to drilling on federal lands leaves the vast majority of U.S. crude production untouched, though it may be the death knell for the Gulf of Continue Reading
Unplugged: Abandoned oil and gas wells leave the ocean floor spewing methane
The Gulf of Mexico is littered with tens of thousands of abandoned oil and gas wells, and toothless regulation leaves climate warming gas emissions unchecked. Out on the deck of Continue Reading
Talos Continues Talks With Pemex Over Massive Shared Oil Discovery Off Mexico
U.S. Talos Energy and Mexico’s state-controlled oil firm Pemex have another three months to discuss and possibly reach an agreement over how to manage and operate a massive oil find Continue Reading
Offshore Oil’s Dramatic Comeback
Smack dab in the middle of an oil price crisis caused by an unprecedented demand loss, Exxon announced the latest in a string of discoveries off the eastern South American Continue Reading
Will Offshore Decom Recover in 2021?
Aquaterra Energy anticipates more offshore decom activity next year – and beyond. Following the general pace of much oil and gas industry activity this year, the offshore decommissioning sector has Continue Reading