Oil and gas projects in deep waters grow competitive
On the heels of new developments in the Gulf of Mexico, a report finds the next breakout area for the recovering oil and gas sector may be deep water basins. Continue Reading
Ocean Rig UDW Files for U.S. Bankruptcy Protection
Offshore drilling contractor Ocean Rig UDW Inc. filed for bankruptcy protection in the U.S. to block distressed debt investors from interfering with a debt restructuring that will slash $3.7 billion Continue Reading
Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce
Top bidders included Shell Offshore, Statoil, Chevron and Hess Corp, each offering more than $44 million for access to offshore exploration and production, according to federal records. Offshore energy companies Continue Reading
Statoil ‘resets’ exploration in U.S. Gulf of Mexico
Norway’s Statoil has “reset” its exploration campaign in the U.S. Gulf of Mexico by placing top bids for 13 offshore deepwater oil and gas leases there in the latest auction, Continue Reading
Major oil companies open their wallets in Gulf of Mexico bidding
Royal Dutch Shell plc, Chevron Corp and Exxon Mobil Corp signaled the oil industry’s return to the Gulf of Mexico’s deep waters with high bids in a government auction up Continue Reading
BP orders construction for new subsea production system
Schlumberger subsidiary OneSubsea has been contracted to provide a subsea production system for BP’s Mad Dog 2 project in the Gulf of Mexico. The Mad Dog Phase 2 project is Continue Reading
Shell Goes on a Deep-Water Drilling Diet
Shell, the world’s second-largest publicly traded energy company, is making a high-stakes bet that it can take highly efficient technology and processes perfected onshore and deploy it in deep-sea production. It hopes Continue Reading
Oil industry revives quest for deepwater reserves
Deepwater oil drilling can be expensive, time-consuming and a hard sell to investors. But the world’s top energy firms are restarting their search for giant oilfields under the ocean after Continue Reading
Oil industry asks Trump about drilling offshore
Despite general White House support for the oil and gas sector, a trade group said more than 90 percent of the reserves offshore remain off limits to producers. In his Continue Reading
Shell Approves New Gulf Of Mexico Project, First Since 2015
Royal Dutch Shell has given the go-ahead to develop its Kaikias deepwater field in the Gulf of Mexico, the first such project the oil and gas company has approved in Continue Reading