A ‘volcano’ at the bottom of the gulf
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
New Estimate for an Oil Leak: A Thousand Times Worse Than Rig Owner Says
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
The $200 Billion Push In Offshore Oil & Gas
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
GOM Production Poised to Set New Records
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
This Oilfield Service Player Is Looking To Make A Comeback
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
Shell starts production at giant Appomattox field in Gulf of Mexico
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
BP eyes US Gulf frontier exploration after years of focusing on tiebacks: executive
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
Shell Begins First-Ever Jurassic Oil Production In Gulf Of Mexico
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
Seadrill considers selling non-core assets to reduce debt-CFO
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
Offshore Oilfield Service Growth Likely to Halve
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
Is This The Most Underrated Upstream Player In The Industry?
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 Race For An Oil Spill Solution
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
Most US Offshore Resources Not Up for Grabs
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
There’s Tremendous Room For Growth In Offshore Oil & Gas
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
GOM Decommissioning Scene is Changing
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 Bets Big On Gulf Of Mexico While Rivals Chase Shale
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 to boost Gulf of Mexico spending as shale-focused rivals pull back
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 Approves Thunder Horse Expansion in GOM
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
Trump administration to relax offshore safety rules sparked by 2010 Gulf oil spill
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
Oil Drillers Given More Leeway by Trump Administration
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
Trump Admin Expected to Ease Post-Macondo Drilling Rules
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
Transocean sees increase in offshore projects amid crude price rebound
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
Top 2019 GOM Equity Producers
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
Trump’s Offshore Drilling Boom May Not Happen Before 2020
President Donald Trump is considering a delay in the introduction of a plan for the expansion of oil and gas drilling in federal waters until after the 2020 elections, Bloomberg Continue Reading
Trump administration sidelines U.S. offshore drilling plan after court ruling
The Trump administration’s plans to expand offshore drilling are on hold after a March court ruling blocked drilling in the Arctic and Atlantic, Interior Secretary David Bernhardt told the Wall Continue Reading
Trump’s Offshore Oil-Drilling Plan Sidelined Indefinitely
The Trump administration’s proposal to vastly expand offshore oil and gas drilling has been sidelined indefinitely as the Interior Department grapples with a recent court decision that blocks Arctic drilling, Continue Reading
Murphy Uses ‘War Chest’ to Sharpen Deepwater GOM Focus
A month after unveiling plans to divest assets in Malaysia, Murphy Oil Co. is sharpening its focus on the deepwater Gulf of Mexico. A month after unveiling plans to divest Continue Reading
South Carolina aims to bar offshore drilling with budget proposal
South Carolina’s Republican-majority Senate advanced a measure on Wednesday that would require the state to block new infrastructure to transport or process offshore oil and gas as state lawmakers fear Continue Reading
Shell Sells Billion Dollar Gulf Of Mexico Asset
Shell has sold its 22.45-percent interest in the Anadarko-operated Caesar-Tonga field in the U.S. section of the Gulf of Mexico to Israeli Delek Group for US$965 million. Besides the field Continue Reading
The Secret Oil Plan That’s Critical To Trump’s Reelection
The idea of opening up the waters off the coast of Florida to oil and gas drilling has been among the least popular ones of the Trump administration and yet Continue Reading
Shell sells stake in Gulf of Mexico field for $965 million
Royal Dutch Shell has agreed to sell its stake in the Caesar Tonga field in the Gulf of Mexico for $965 million in cash to a subsidiary of Israel’s energy Continue Reading
Big Oil Is Heading Offshore
Oil companies will this year increase their investments in offshore drilling for the first time after five years of spending cuts as optimism for this segment of the industry returns Continue Reading
Low prices spark interest in latest U.S. Gulf oil, gas lease sale
The Trump administration’s fourth major auction for oil and gas leases in the U.S. Gulf of Mexico received $244 million in high bids on Wednesday, reflecting an uptick in interest Continue Reading
U.S. Interior official suggests Trump drilling proposal will include Atlantic: recording
The Trump administration is likely to open up portions of the Atlantic to oil and gas drilling despite opposition from East Coast states, a U.S. Interior Department official suggested in Continue Reading
Washington’s Offshore Drilling Plan Due In Weeks
The Trump administration is set to unleash its offshore, five-year oil drilling plan within weeks, Reuters reported , quoting an unnamed source in the know. The plan is being prepared Continue Reading
Trump administration offshore drilling plan due ‘in coming weeks’: official
The Trump administration’s revised five-year program to expand offshore drilling in most federal waters will be released “in the coming weeks,” an Interior Department official said on Wednesday, after months Continue Reading
BOEM Schedules Gulf Of Mexico Lease Sale For March
The Bureau of Land Management has scheduled a region-wide oil and gas lease sale for the Gulf of Mexico, in which it will offer a total 14,696 blocks spanning 78 Continue Reading
Global Deepwater Oil Production To Hit New Record In 2019
Global deepwater liquid production is set to jump by 700,000 bpd from 2018 to reach a record-high of 10.3 million bpd in 2019, thanks to new fields coming on stream Continue Reading
Court blocks offshore oil testing permits during shutdown
A federal court on Friday blocked the Trump administration from issuing any permits to conduct seismic testing for offshore oil and natural gas drilling during the partial government shutdown. Judge Continue Reading
After billion-barrel bonanza, BP goes global with seismic tech
Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola Continue Reading
Offshore Spending To Overtake Shale In 2019
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector Continue Reading
Oil Majors Bet Big On Offshore Drilling In 2019
Oil majors will spend US$208 billion on offshore drilling and other oilfield services this year, but not all sector players are positioned to benefit from the higher spending, Bloomberg reported Continue Reading
BP Unlocks One Billion Barrels In Gulf Of Mexico With New Tech
Earlier this decade, BP and the Gulf of Mexico was an awkward and uneasy collocation for the UK oil supermajor after the 2010 Deepwater Horizon disaster. Nearly a decade and Continue Reading
BP Okays $1.3B Expansion in Gulf of Mexico
The supermajor has given the greenlight to the Atlantis Phase 3 development, which is expected to boost production by 38,000 boepd. BP has approved a $1.3 billion expansion for the Continue Reading
Nine U.S. states seek to stop Trump administration’s Atlantic oil testing
Attorneys general from nine U.S. states sued the Trump administration on Thursday to stop future seismic tests for oil and gas deposits off the East Coast, joining a lawsuit from Continue Reading
US Gulf of Mexico On Track for Historic 2019
Activity booms, first-ever production and key sanctions are some of the factors leading to a grand year for the US Gulf of Mexico, analysts say. The U.S. Gulf of Mexico Continue Reading
States Look to Block Seismic Surveys in Atlantic
Attorneys general from nine coastal states are intervening in a lawsuit aimed at blocking seismic surveys that could help pinpoint oil under Atlantic waters but also imperil whales and dolphins. The Continue Reading
The Next Big Development In Offshore Oil & Gas
Siemens last week announced the launch of the first hybrid power plant for offshore rigs combined with energy storage featuring lithium-ion batteries. The company first unveiled the Blue Vault power Continue Reading
Trump Admin to Advance Seismic Surveys in Atlantic
The Trump administration is taking a major step toward allowing a first-in-a-generation seismic search for oil and gas under Atlantic waters. (Bloomberg) — The Trump administration is taking a major Continue Reading
Big Foot Up and Running
Chevron’s operated Big Foot deepwater project starts crude oil and natural gas production. Chevron has announced that its operated Big Foot deepwater project, located in the U.S. Gulf of Mexico, Continue Reading