Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said Continue Reading
Introduction In many ways the US side of the Gulf of Mexico shows signs of a production basin at the end of life. Most of the sort historic of charts Continue Reading
The fall, which in some cases wiped off almost a fifth of some rig builders’ market value in a single trading session, came after news that Saudi Arabia would go Continue Reading
Political appointees at the Department of the Interior overruled staff objections to a rule that eased offshore drilling regulations, according to a report from The Wall Street Journal on Wednesday. Continue Reading
As the offshore oil industry’s federal regulator completed its overhaul of a major well-drilling safety rule in 2018, the agency’s director picked up the phone to a staff engineer to Continue Reading
The study comes as the Trump administration is preparing to finalize a that would allow the oil and gas industry to buy leases in every part of the Atlantic, Pacific Continue Reading
In retrospect, 2019 was another strong year for offshore exploration and production companies. Free cash flow remained strong and telltale signs have emerged that we are entering a new offshore Continue Reading
The U.S. Gulf of Mexico made history in August as it exceeded oil production of 2MMbopd, according to the U.S. Bureau of Safety and Environmental Enforcement. The U.S. Gulf of Continue Reading
2020 is expected to be another record year for the region with average production above 1.9 million barrels per day. Despite a massive downturn in investment in the U.S. Federal Continue Reading
2020 is expected to be another record year for the region with average production above 1.9 million barrels per day. Despite a massive downturn in investment in the U.S. Federal Continue Reading
Based on currently available geophysical data, the Lebanese government estimates that the offshore oil and gas frontier areas in the East Mediterranean may hold around 25 trillion cubic feet of Continue Reading
The wake from Chip Campsen’s fishing boat has rippled all the way from the South Carolina coast to the White House. Mr. Campsen is a Republican state senator and dedicated Continue Reading
The U.S. Gulf of Mexico is positioned for another year of record oil production in 2020, according to Rystad Energy. The U.S. Gulf of Mexico is positioned for another year Continue Reading
Despite massive cuts in investment the US Gulf of Mexico is set for another year of record oil production in 2020, according to Rystad Energy. Most of the supply growth Continue Reading
The offshore market recovery is underway, albeit at a slow rate, and Transocean expects to capitalize on a tighter market and increasing demand for high-specification rigs, the company said Tuesday. Continue Reading
Eddie Seal/Bloomberg The United States government has lost billions of dollars of oil and gas revenue to fossil-fuel companies because of a loophole in a decades-old law, a federal watchdog Continue Reading
Annual oil production in the Gulf of Mexico is expected to jump to 1.9 million bpd in 2019. Oil production in the Gulf of Mexico (GOM) hit a new annual Continue Reading
US oil producers are keeping a close eye on what the US National Hurricane Center is calling Potential Tropical Cyclone Sixteen, S&P Global Platts reported on Thursday. The NHC has Continue Reading
The Department of the Interior’s Land and Mineral Management and Bureau of Ocean Energy Management are proposing a regionwide lease sale in March 2020 for 78 million acres in the Continue Reading
Williams has acquired and placed into service the Norphlet deepwater gas gathering system. Williams reported Wednesday afternoon that it has acquired and placed into service the 16-inch Norphlet deepwater gathering Continue Reading
Offshore oil and gas operators in the Gulf of Mexico are resuming normal operations following tropical storm Barry. Offshore oil and gas operators in the Gulf of Mexico (GOM) are Continue Reading
Offshore oil and gas operators in the Gulf of Mexico are resuming normal operations following tropical storm Barry. Offshore oil and gas operators in the Gulf of Mexico (GOM) are Continue Reading
The U.S. Secretary of the Interior David Bernhardt and Bureau of Ocean Energy Management (BOEM) announced Thursday that BOEM proposes to offer 77.8 million acres for a region-wide lease sale. Continue Reading
After tropical storm Barry passed through the U.S. Gulf of Mexico and made landfall in Louisiana early on Saturday, oil and gas producers began on Monday to slowly restore oil Continue Reading
Threatened flooding from a tropical storm in the U.S. Gulf of Mexico that cut nearly a third of the region’s oil production has forced the shutdown of a coastal refinery, Continue Reading
US offshore drillers have shut 1 million b/d, or 53%, of Gulf of Mexico oil production and 1.2 Bcf/d, or 45%, of natural gas output as Tropical Storm Barry heads Continue Reading
Major U.S. oil producers on Tuesday began evacuating and shutting in production at their deepwater Gulf of Mexico platforms in advance of a tropical disturbance expected to become a storm Continue Reading
Timmy Couvillion first saw the oil plume at the bottom of the Gulf of Mexico more than two months ago, but the memory still makes his skin crawl. His small Continue Reading
A new federal study has found that an oil leak in the Gulf of Mexico that began 14 years ago has been releasing as much as 4,500 gallons a day, Continue Reading
As the oil and gas industry comes out of the recent downturn, E&P companies are tempted to chase the rewards of higher oil prices by accelerating the sanctioning of new Continue Reading
Oil production in the U.S. Gulf of Mexico is poised to set new records in the imminent future. Oil production in the U.S. Gulf of Mexico (GoM) is poised to Continue Reading
Introduction The collapse of deepwater drilling in the Gulf of Mexico, (GoM) beginning in 2014, with no real recovery yet in sight, has spread a lot of misery around the Continue Reading
Royal Dutch Shell has started producing oil and gas at its Appomattox deep water platform in the Gulf of Mexico, one of the largest projects launched in the basin in Continue Reading
After years of pursuing a strategy of mostly tiebacks in the deepwater Gulf of Mexico during the recent industry downturn, BP said it will also now begin adding frontier exploration, Continue Reading
Royal Dutch Shell said on Thursday that it had started oil production at its Appomattox floating production system months ahead of schedule, opening a new frontier in the deepwater U.S. Continue Reading
Offshore drilling contractor Seadrill is considering selling non-core assets, including its 15.7% stake in oil service firm Archer, to reduce its liabilities, the firm’s outgoing chief financial officer said on Continue Reading
The annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to Rystad Energy. The annual growth rate in the global offshore oilfield Continue Reading
Beginning in 2016 oil prices bottomed, and began a stop-start recovery that has restored WTI and Brent (two globally recognized bench marks for oil) to about 65-70 percent of their Continue Reading
The search for ever-better materials to soak up oil from water has recently added a new member to this highly specialized and highly sough-after family: Chinese scientists have invented a Continue Reading
94 percent of U.S. offshore resources are not available for investment. Ninety-four percent of the United States’ offshore resources are not available for investment. That’s what Eric Oswald, vice president Continue Reading
The Offshore Technology Conference (OTC) in Houston, Texas celebrates its 50th birthday this week, begging the question – what will the next 50 years hold for the offshore market? Luckily, Continue Reading
Dismantling an oil and gas platform in the Gulf of Mexico is becoming even more challenging. Hardly an easy proposition to begin with, dismantling an offshore oil and gas platform Continue Reading
BP, the biggest oil producer in the U.S. Gulf of Mexico, has just announced that it is expanding the development at one of its fields, unlocking additional production from its Continue Reading
BP Plc on Monday announced new production units in the Gulf of Mexico, enhancing its standing as the largest producer there at a time when rival global oil majors are Continue Reading
BP has approved the Thunder Horse Expansion Phase 2 project in the deepwater Gulf of Mexico, which should add 50,000 boepd. BP has approved the Thunder Horse Expansion Phase 2 Continue Reading
The Trump administration unveiled on Thursday its final plan to roll back offshore drilling safety measures put in place by the Obama administration after the fatal 2010 BP Deepwater Horizon Continue Reading
The Trump administration is giving oil companies more flexibility when drilling offshore, by easing Obama-era mandates imposed in response to the 2010 Deepwater Horizon disaster. (Bloomberg) — The Trump administration Continue Reading
The Trump administration is poised to relax offshore drilling requirements imposed in response to the 2010 Deepwater Horizon disaster. (Bloomberg) — The Trump administration is poised to relax offshore drilling Continue Reading
Swiss driller Transocean’s customers are moving ahead with more offshore projects amid a rebound in crude oil prices and the continued improvement in offshore economics, company executives said Tuesday. Transocean Continue Reading
A combined Chevron and Anadarko entity would take first place in a table of top 2019 Gulf of Mexico equity producers, Rystad Energy has confirmed. A combined Chevron Corporation and Continue Reading
