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