U.S. Gulf Of Mexico Can Help Fill Global Oil Supply Gap
The U.S. Gulf of Mexico may be one of the world’s most mature deepwater basins, but it still has a lot of potential to expand. The deepwater U.S. Gulf of Continue Reading
U.S. offshore oil output drops as Hurricane Ian takes aim
About 11% of oil production in the U.S. Gulf of Mexico was shut on Tuesday as a powerful Hurricane Ian forced oil companies to evacuate workers and the storm took Continue Reading
BP, Chevron cut offshore oil production ahead of Hurricane Ian
BP Plc (BP.L) and Chevron Corp (CVX.N) on Monday said they have shut-in production at offshore oil platforms in the Gulf of Mexico, as Hurricane Ian bore down on the Continue Reading
Biden Issues Offshore Drilling Rights Under Climate Mandate
The Biden administration on Wednesday issued oil and natural gas leases to companies that nabbed the Gulf of Mexico drilling rights in a government auction later invalidated by a federal Continue Reading
This decade’s oil boom is moving offshore – way offshore
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Continue Reading
This decade’s oil boom is moving offshore – way offshore
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Continue Reading
Gulf of Mexico Oil Leases Up in the Air Amid Another Court Ruling
A U.S. court of appeals has ruled that President Joe Biden’s pause on oil and gas leases on public land can be reinstated, just days after the passage of a Continue Reading
Gulf of Mexico Disturbance Gathers Strength
The chance of the weather pattern forming into a cyclone through the next 48 hours has risen. An unnamed weather disturbance projected to move over the southwestern Gulf of Mexico Continue Reading
Oil Outages in Gulf of Mexico Straining Tight Market
Six oil and gas fields in the Gulf of Mexico have been shut. Six oil and gas fields in the Gulf of Mexico have been shut after a leak at Continue Reading
U.S. offshore oil output to restart after pipeline fix
A damaged oil pipeline component that disrupted output at several offshore U.S. Gulf of Mexico platforms was repaired late Friday, a Louisiana official said, with producers moving to reactivate some Continue Reading
Six Gulf of Mexico Oil Fields Shut In After Pipelines Halted
Six oil and gas fields in the Gulf of Mexico have been shut after a leak at a Louisiana booster station halted two pipelines in the region. Shell Plc on Thursday Continue Reading
Offshore Drilling Is Coming Back With A Bang
It looks like the offshore oil and gas drilling market is in the early innings of an upcycle in investment and activity. Both Schlumberger and Transocean believe that the upcoming Continue Reading
Offshore Wind Turbines Soon To Join Rigs In Gulf Of Mexico
The Department of the Interior has announced steps to bring the opportunity of offshore wind energy to the Gulf of Mexico. In response to President Biden’s call to advance offshore Continue Reading
Shell Has Big Plans to Drill in the Gulf of Mexico Despite Climate and Political Debate
Political uncertainty is clouding prospects for new drilling in the Gulf of Mexico, but Shell SHEL 1.96%▲ PLC—the Gulf’s biggest producer—is still investing billions of dollars in its waters to pump oil for years Continue Reading
Shell Has Big Plans to Drill in the Gulf of Mexico Despite Climate and Political Debate
Political uncertainty is clouding prospects for new drilling in the Gulf of Mexico, but Shell SHEL -1.21%▼ PLC—the Gulf’s biggest producer—is still investing billions of dollars in its waters to Continue Reading
Biden releases five-year offshore leasing plan Friday
President Biden’s administration opened the door Friday to more offshore oil and gas drilling in federal waters over the next five years, setting a potential course for future U.S. fossil fuel extraction Continue Reading
US Interior proposes up to 11 offshore oil, gas lease sales in 2023-2028
The Biden administration proposed July 1 offering oil and natural gas drillers no more than 10 lease sales for offshore Gulf of Mexico acreage and a single auction for Alaska Continue Reading
Biden administration drilling plan may exclude all waters beyond Gulf of Mexico
The U.S. Interior Department has recommended to the White House that all federal offshore oil and gas drilling auctions over the next five years be located in the Gulf of Continue Reading
Gulf of Mexico update
Through 2021 the federal waters of the northern Gulf of Mexico (OCS) have cumulative production of 23.4 Bbo and 193 Tcf. The deepwater (water depths > 1000’ as defined by Continue Reading
Offshore oil rig rates lifted by pandemic recovery, race to replace Russian crude
Rental rates for offshore oil and gas rigs have rocketed higher, boosted by a race to lift production because of the war in Ukraine and a recovery in demand after Continue Reading
DOI Provides Offshore Leasing Program Update
The U.S. Department of the Interior (DOI) has posted an update. The Department of the Interior (DOI) will release the proposed program, the next step in the five-year offshore energy Continue Reading
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