Trump’s Atlantic Drilling Plan May Be A Lost Cause
A key public comment period just ended for revising the offshore exploration program along the U.S. Atlantic Coast, and the path forward might not be as smooth as the Trump Continue Reading
Efforts mount to expand U.S. offshore drilling
After a rebound in the value of high bids for oil and gas acreage in the Gulf of Mexico, industry supporters said it was time to push for greater access. Continue Reading
Governor opposition complicates Trump administration’s Atlantic drilling plans
The Trump administration is facing increasing pressure from governors of East Coast states to keep federal Atlantic waters out of the five-year oil and natural gas leasing plan it hopes Continue Reading
Oil producers signal offshore return in latest Gulf of Mexico auction
Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return Continue Reading
Known Gulf of Mexico deepwater areas most attractive in modest lease sale
US Gulf of Mexico Lease Sale 249 on Wednesday was not a barn-burner, but it did show a measure of competitive bidding in the deepwater and even boasted two eight-figure Continue Reading
Has Gulf Of Mexico Production Peaked?
Amid strong indicators that U.S. shale production will reach new heights by the end of 2017, efforts to promote further exploration and production in the Gulf of Mexico, long a Continue Reading
Offshore drilling mergers raise hopes for sector recovery
Transocean’s GSF Development Driller II crosses Istanbul’s Bosphorus on its way to the Black Sea September 6, 2014.Murad Sezer HOUSTON (Reuters) – Mergers among offshore oil drillers are raising hopes Continue Reading
Has Gulf Of Mexico Production Peaked?
Production for May by BOEM was 1673 kbpd and by EIA 1661, compared with 1661 and 1658 kbpd, respectively in April. March looks like the peak, at least near term, Continue Reading
NC governor on Trump drilling plan: ‘Not off our coast’
Under pressure from President Donald Trump, North Carolina’s governor announced his opposition on Thursday to drilling for natural gas and oil off the Atlantic coast, saying it poses too much Continue Reading
Oil output slow, steady for U.S. in Gulf of Mexico
The slow, but steady, gain in oil production expected from the U.S. waters of the Gulf of Mexico shows the region is more stable than shale, a rig analyst said. Continue Reading
GULF OF MEXICO DISCOVERIES, RESERVES AND PRODUCTION
Part I Discoveries and Reserves The following are a few charts and observations concerning the US Gulf of Mexico production, with data mostly taken from BOEM for the OCS and Continue Reading
Greenpeace: U.S. bowed to pressure over Atlantic energy work
A U.S. decision to extend the comment period for work tied to oil and gas development in the Atlantic was a response to public outrage, Greenpeace said. The National Oceanic Continue Reading
In disaster’s wake, BP doubles down on deepwater despite surging shale
About 300 BP workers commute 150 miles here by helicopter, from the Louisiana coast to a deep-sea drilling platform that can produce more oil in a day than a West Continue Reading
Rig Trends: Offshore Rig Market Recovery Reports Premature
For quite some time now, many oilfield analysts have reported the beginning of a recovery in offshore rig demand. For quite some time now, many oilfield analysts have reported the Continue Reading
Woodmac: Only the ‘Very Best’ Projects Sanctioned
Only the very best deepwater projects have been sanctioned during the oil price downturn, which speaks volumes of the Liza field’s potential. Only the very best deepwater projects have been Continue Reading
Democrats aim to block Atlantic energy surveys
Senate Democrats concerned Atlantic energy work could harm some maritime species that depend on seismic activity to communicate. File photo by Ken James/UPI. June 12 (UPI) — The process to Continue Reading
More offshore oil openings from Trump draw criticism
The White House took another step to opening up offshore oil and gas reserves using a method that an industry critic said poses a real ecological threat. The office of Continue Reading
Oil production in the Gulf of Mexico shows resilience
With crude oil prices in May holding above the $50 mark, analysis finds the U.S. Gulf of Mexico saw gains in exploration and production activity. Platts RigData, a forecasting unit Continue Reading
Trump Moves To Allow Drilling On Atlantic Coast
A new proposal by the Trump administration will allow oil companies to use seismic air guns to search for fossil fuel deposits in the Atlantic Ocean, according to reports emerging Continue Reading
Carlyle OFS Exec: It’s Dangerous to Declare Industry in Recovery
Carlyle Group principal cautions crowd at Louisiana Energy Conference that not all of the oil and gas industry is rebounding as conventional and offshore service companies continue to struggle. An Continue Reading
Once Costly Deep-Sea Oil Turns Cheap, to OPEC’s Dismay
Deep-water drilling costs are coming down, Wood Mackenzie says Oil at $50 seen sustaining some deep-water projects by 2018 Reports of deep-sea drilling’s demise in a world of sub-$100 oil Continue Reading
Democratic senators snubbed with Atlantic energy move
A move to open up parts of the Atlantic to oil and gas activity by the Trump administration went against regional interests, a letter shows. The U.S. Interior Department said Continue Reading
All Washed Up? Shale Oil and Gas Drowns Out US Gulf of Mexico Shallows
More than 10,000 jobs in the US Gulf of Mexico may be lost, never to return, as shallow water drilling lands in the doldrums where experts say it will remain. Continue Reading
Little fanfare, but Gulf of Mexico oil still growing steadily
As rapid growth in U.S. shale production grabs headlines and threatens to upend attempts by OPEC to balance oil markets, a more unsung sector of the U.S. industry is also Continue Reading
Pentagon concerned about lifting offshore drilling moratorium
A letter viewed by Florida lawmakers from the Pentagon said maintaining a moratorium on drilling in parts of the Gulf of Mexico was in the nation’s interest. A letter from Continue Reading
BP: Deepwater Investments in GOM Make Sense
BP’s regional president for the Gulf of Mexico shares how his company was able to overcome the challenges of operating in deepwater. This year’s Offshore Technology Conference kicked off with Continue Reading
BP Says 1B Additional Barrels ‘Possible’ In Gulf Of Mexico Hubs
The head of BP’s Gulf of Mexico region said on Monday the oil company’s use of a new seismic imaging technology has identified 1 billion additional barrels of “possible resources” Continue Reading
BP finds hidden trove of oil in Gulf of Mexico
British oil major BP has discovered 200 million barrels of oil in a hidden cache in the Gulf of Mexico, thanks to a technological breakthrough allowing the company to see Continue Reading
Donald Trump Signs Executive Order Easing Offshore-Drilling Regulations
President Donald Trump signed an executive order Friday to ease regulations on offshore drilling and eventually allow more to occur, particularly in the Arctic Ocean. The order, which takes aim Continue Reading
Trump’s offshore oil move already facing legal challenge
With the ink barely dry on an order to review U.S. offshore drilling rights, environmental groups said preparations are already underway for a legal challenge. U.S. Interior Secretary Ryan Zinke Continue Reading
Will Trump Spark An Offshore Drilling Boom?
In a bid to fend off criticism over a dearth of achievements in his first 100 days in office, President Trump plans to sign a flurry of executive orders this Continue Reading
Unsung Gulf of Mexico Tracks New Crude Oil Production Record
Permian Basin hoards the spotlight, but meanwhile, offshore producers are a fraction of a percentage point away from hitting another all-time high during the first half of the year, according Continue Reading
Trump to sign offshore orders as 100th day in office, shutdown near
Ahead of his 100th day in the White House on Saturday, President Trump is expected this week to unveil details of major policy initiatives, including executive orders aimed at expanding Continue Reading
BP Gulf Oil Spill Damage Valued at $17.2 Billion in New Study
BP Plc’s 2010 Gulf of Mexico oil spill caused damage to beaches, animals, fish, and coral that the public values at $17.2 billion, according to a financial accounting released on Continue Reading
Bankruptcy leads to closure of platform offshore California
The pending closure of an oil installation offshore California because of a corporate bankruptcy marks a shift in state trajectory, environmentalists said. Venoco, which has its headquarters in Colorado, said Continue Reading
U.S. offshore oil production on the rise
With two oil fields in the Gulf of Mexico starting production this year, and five on tap for 2018, offshore production is set to increase, a U.S. report found. Eight Continue Reading
Gulf of Mexico crude oil production, already at annual high, expected to keep increasing
U.S. crude oil production in the Federal Gulf of Mexico (GOM) set an annual high of 1.6 million barrels per day (b/d) in 2016, surpassing the previous high set in Continue Reading
Florida lawmaker fending off calls for oil and gas drilling
Amid calls for more oil and gas drilling, a Democratic senator in Florida said he was “beating back” pressure for exploration in the Gulf of Mexico. Industry groups like the Continue Reading
Gulf Of Mexico Breakeven Falls Below $50 Per Barrel
Twice as many deepwater projects expected this year as the last two years combined While U.S. shale has been by far the most important topic when discussing U.S. oil and Continue Reading
Seadrill in a Free Fall Seen Left to Day Traders as Hope Fades
Seadrill Ltd. , once the crown jewel of billionaire John Fredriksen’s business empire, is at the mercy of short-term speculators as the biggest funds shun the offshore driller amid a Continue Reading
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