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
GoM Summary Part V: Possible Futures
This analysis concerns C&C only. Natural gas production is low and steadily declining with few deep gas-condensate discoveries and the shallow dry gas fields at end of life. I don’t Continue Reading
American Deepwater Oil Exploration Isn’t Dead
In a move that came as a surprise to some, today’s oil and gas lease round in the U.S. Gulf of Mexico generated substantial interest on Wednesday. The sum of Continue Reading
ANALYSIS: Cloudy outlook seen for US Gulf lease sale due to low oil prices, budgets
Uncertainties on both the timing of oil demand recovery from the coronavirus pandemic and the future actions of the incoming Joe Biden administration over permitting on federal lands present a Continue Reading
Record-Breaking Hurricane Season Took Major Toll On Gulf Of Mexico Production
On Thursday morning, Tropical Storm Eta made landfall over North Florida and has become the 12th named storm to make landfall out of a record-breaking year of 29 named storms. Continue Reading
Offshore Oil & Gas Poised For A Major Rebound
In a year marked by huge spending cuts across the oil and gas industry amid urgently revised budgets and slashed investments, some analysts are now expecting a light at the Continue Reading
Trump administration sets Gulf of Mexico drilling auction for Nov. 18
The Trump administration on Thursday said it would offer all available areas in the Gulf of Mexico for auction to oil and gas drillers on Nov. 18, the first major Continue Reading
Democrats Want Permanent Ban On Offshore Oil Leasing
Democrat members of the House Natural Resources Committee are pushing for a permanent ban on all offshore oil and gas leasing in Atlantic and Pacific federal waters as well as Continue Reading
GoM Summary Part IV: Company Details
A Guest Post by George Kaplan Overall Annual Production Production is dominated by major international companies particularly, and maybe surprisingly, European ones. Principally Shell and BP, but with Equinor, Eni, Continue Reading
US Gulf oil and gas operators begin evacuations ahead of storm
US Gulf offshore oil and gas producers began evacuating personnel Oct. 5 ahead of Tropical Storm Delta, which is expected to enter the area as a hurricane before making landfall Continue Reading
Offshore Oil & Gas Pipelines Will See A Speedy Recovery
The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year, with the size of total installations Continue Reading
Trump extends drilling ban off North Carolina, Virginia
U.S. President Donald Trump said on Friday he had extended a ban until 2032 on oil drilling off the coast of North Carolina and Virginia, weeks after a similar extension Continue Reading
US Gulf of Mexico oil and gas output returning ahead of Tropical Storm Beta’s landfall
Offshore US Gulf of Mexico oil and gas production continued to recover Sept. 21 as Tropical Storm Beta was preparing to make landfall along the Texas coast, US Bureau of Continue Reading
US GOM Production Shuts Again
U.S. Gulf of Mexico oil and gas production has been shut-in as a response to Tropical Storm Sally. U.S. Gulf of Mexico (GOM) oil and gas production has been shut-in Continue Reading
Trump signs order extending drilling ban off Florida Gulf coast, expands it two other states
U.S. President Donald Trump on Tuesday signed an order to extend a ban on offshore oil drilling in the eastern Gulf of Mexico off Florida, as he seeks to win Continue Reading