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
Trump’s Drilling Ban Bombshell Rocks Oil Industry
U.S. President Donald Trump shocked the oil industry today with a surprise announcement that he would extend the existing moratorium on oil drilling on parts of Florida’s, South Carolina’s, and Continue Reading
US Gulf of Mexico operators slowly continue to restore oil, gas output from storm shut-ins
US Gulf of Mexico oil and gas operators continue to restore oil and natural gas output, albeit slowly, from platforms temporarily brought offline prior to Hurricane Laura which slammed the Continue Reading
US GOM Oil Slowly Coming Back
U.S. Gulf of Mexico oil production is slowly returning following Hurricane Laura. U.S. Gulf of Mexico (GOM) oil production is slowly returning following Hurricane Laura, the Bureau of Safety and Continue Reading
Upstream oil, gas operators restore US Gulf of Mexico production from storm Laura shut-ins
US oil and natural gas operators continued restoring production from Gulf of Mexico platforms that had been shut-in in advance of Hurricane Laura as that monster storm barreled through the Continue Reading
70 Percent of US GOM Oil Still Offline
Approximately 69.76 percent of the current oil production in the U.S. Gulf of Mexico remained shut in as of August 30. Approximately 69.76 percent, or 1.29 million barrels per day, Continue Reading
U.S. Gulf of Mexico oil output remains lower in wake of storm, data shows
U.S. Gulf of Mexico crude oil output remained down 70%, or 1.29 million barrels per day, according to data released on Sunday by the Department of Interior, as companies continued Continue Reading
Hurricane Laura poses biggest threat to U.S. oil in 15 years
The U.S. energy industry began preparing for a major hurricane strike by Tuesday, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining Continue Reading
Little production in storm’s path left for shut-ins by US Gulf oil, gas companies: BSEE
US Gulf of Mexico production numbers released Aug 25 by the federal Bureau of Safety and Environmental Enforcement show that producers have little output in the region along the predicted Continue Reading
US Gulf Coast gasoline climbs as storms approach
US Gulf Coast gasoline differentials spiked Aug. 24 as the region monitored approaching tropical storms Marco and Laura. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Gulf Coast Refineries Shutter Ahead of Storm, Gasoline Soars
Oil and chemical facilities located along the Texas and Louisiana Gulf Coast are shuttering, securing equipment or running through emergency protocols ahead of a strong hurricane set to rip through Continue Reading
1MM+ US GOM Barrels Shut In Due to Storms
More than one million barrels of oil per day have been shut in on the U.S. Gulf of Mexico, as of August 23, as Hurricane Marco and Tropical Storm Laura Continue Reading
Twin U.S. Gulf Coast storms move energy giants to deep production cuts
Energy companies moved to cut production at U.S. Gulf Coast oil refineries on Monday after shutting half the area’s offshore crude oil output as back-to-back storms took aim at the Continue Reading
Louisiana, Cuba residents evacuate as twin storms take aim at U.S. coast
Coastal residents in low-lying areas of Louisiana and Cuba were evacuating on Sunday, while roads turned to rivers in Haiti’s capital city, as twin hurricanes threatened the Caribbean and U.S. Continue Reading
Is A Wave Of Bankruptcies Heading For The Offshore Oil Industry?
Offshore drilling major Valaris became the latest victim of the crisis this week as it filed for bankruptcy in the U.S., proposing a swap of some $6.5 billion in debt Continue Reading
US Gulf of Mexico producers shut in more production ahead of two tropical storms
US Gulf of Mexico producers have opted to shut more of their production and evacuate crews Aug. 23 as meteorologists revised the tracks of two tropical storms, Marco and Laura, Continue Reading
Chevron shutting in output, removing crews from US Gulf platforms ahead of storms
Chevron has begun shutting in production and evacuating crews from four sizeable US Gulf of Mexico platforms in advance of Tropical Storm Laura and Tropical Depression 14, as the two Continue Reading
World’s Largest Offshore Rig Owner Files Bankruptcy
UK-based offshore drilling contractor Valaris has filed for bankruptcy protection in the United States, offering creditors to swap some $6.5 billion of its $7.8-billion debt pile for equity. The company Continue Reading
U.S. Offshore Wind Industry To See Explosive Growth
Offshore wind has the potential to become a major industry in the United States over the next decade, unlocking billions of U.S. dollars of investment and creating thousands of jobs. Continue Reading
Demand For Offshore Oil Rigs To Return In 2022
Demand for offshore rigs will slump this year as a result of the pandemic and the low oil prices that are forcing offshore operators to delay drilling activities, but the Continue Reading
Transocean Hires Adviser To Consider “Strategic Alternatives”
The world’s largest offshore rig operator Transocean has hired Lazard to advise it on strategic alternatives for its capital structure, Bloomberg has reported, citing a company statement. Transocean reported a Continue Reading
BOEM Proposes New GOM Lease Sale
The Bureau of Ocean Energy Management is proposing to offer approximately 78.8 million acres in a new Gulf of Mexico lease sale. The Bureau of Ocean Energy Management (BOEM) has Continue Reading
Researchers Look For Ways To Cut Norway’s Gargantuan $100 Billion Decommissionin
A new innovation center in Norway aims to find alternative and cost-efficient solutions aimed at reducing the huge US$100 billion decommissioning cost that the North Sea operators and countries face, Continue Reading
Deepwater GOM Project Gets Green Light
LLOG Exploration Offshore has sanctioned its Taggart discovery and finalized development plans for the deepwater Gulf of Mexico field. LLOG Exploration Offshore, L.L.C. reported Monday that it has sanctioned its Continue Reading
185 US GOM Platforms Evacuated Due to Storm
As of June 7, workers have been evacuated from 185 production platforms in the U.S. Gulf of Mexico due to Storm Cristobol. As of June 7, workers have been evacuated Continue Reading
Oil refineries, offshore drillers face hurricane challenges amid pandemic
As oil and gas companies began shutting offshore production before the first tropical storm of the season in the U.S. Gulf of Mexico, experts said restarting wells and refineries will Continue Reading
Offshore Oil Is On The Brink Of Collapse
Project cancellations, spending cuts, well shut-ins: the problems and dilemmas plaguing onshore oil producers have also spread to offshore. And while the effects of the Covid-19 pandemic on onshore drilling Continue Reading
A Nightmare Scenario For Offshore Oil
Between low demand, soaring inventories, depressed prices, a global pandemic, and now, hurricane season, it seems a perfect storm is forming around the offshore oil industry. The world’s offshore oil Continue Reading
Study Shows New Offshore Canada Oil Presence
A detailed evaluation of the Southern Grand Banks petroleum system offshore Atlantic Canada has identified a new oil presence, Applied Petroleum Technology reported. A detailed evaluation of the Southern Grand Continue Reading
Study Finds GOM Offshore Industry at Risk
Potential leasing and drilling bans threaten the GOM oil and gas industry, NOIA-commissioned study finds. Potential leasing and drilling bans threaten the Gulf of Mexico (GOM) oil and natural gas Continue Reading
Gulf of Mexico oil sector faces pandemic-related risks and hurricanes
Weak crude oil will make it harder for some Gulf of Mexico operators to fulfill their drilling requirements on leases just as the industry is battling outbreaks of coronavirus offshore Continue Reading
U.S. drilling industry says offshore ban would crush jobs, government revenues
A U.S. ban on new offshore drilling in the Gulf of Mexico, which presidential hopeful Joe Biden promised to enact if elected, would lead to hundreds of thousands of job Continue Reading
Offshore oil producers say Trump administration’s coronavirus response falls flat
Offshore oil producers and their allies in Congress are asking the Trump administration to make it easier for them to get a break on payments to the government amid the Continue Reading
US GoM 2019 Summary: Part II – Reserves
Introduction BOEM produces an estimate of GoM reserves every year. This year’s covers estimates for then end of 2017. Nominally The figures given are 2P estimates but previous analysis has Continue Reading
Ten Years After Deepwater Horizon, U.S. Is Still Vulnerable to Catastrophic Spills
Shortly before 10 p.m. on April 20, 2010, an explosion ripped through the Deepwater Horizon drilling rig in the Gulf of Mexico, unleashing the worst offshore oil spill in United Continue Reading
10 years after BP spill: Oil drilled deeper; rules relaxed
Ten years after an oil rig explosion killed 11 workers and unleashed an environmental nightmare in the Gulf of Mexico, companies are drilling into deeper and deeper waters, where the Continue Reading
Gulf of Mexico Rig Crews Fight Virus to Keep Oil Flowing
Inside more than a thousand offshore drilling rigs and oil production platforms that dot the Gulf of Mexico, workers navigate narrow corridors, sleep in shared rooms and dine in crowded Continue Reading