Transocean Ltd.’s agreement to plead guilty for its role in the April 2010 Macondo well blowout in the Gulf of Mexico has been accepted by a federal court in New Orleans. Transocean owned the Deepwater Horizon drilling platform, which was destroyed in the well blowout, killing 11 men. U.S. District Judge Jane Triche Milazzo accepted the agreed-upon settlement reached in January with the Department of Justice, in which Transocean pleaded guilty to a misdemeanor charge and agreed to pay $400 million in criminal penalties. Transocean also has agreed to pay $1 billion in civil penalties, which is to be decided in a different court.
2010
Articles from 2010
NuStar Crude Throughput Up on ‘Luck’ and Eagle Ford
Infrastructure projects, acquisitions and contracting activity — particularly in the Eagle Ford Shale of South Texas — served to lift crude oil pipeline throughputs for NuStar GP Holdings LLC last year. Some of NuStar’s South Texas pipeline assets had been underutilized.
February 5, 2013
Offshore Reinvestment Coming at Opportune Time
Following a turbulent period in the Gulf of Mexico after the Macondo well blowout in April 2010, offshore drilling companies have rebounded and are outperforming the top land service providers, according to IHS Inc.
February 4, 2013
Offshore Drillers’ Reinvestment Coming at Opportune Time
Following a turbulent period in the Gulf of Mexico after the Macondo well blowout in April 2010, offshore drilling companies have rebounded and are outperforming the top land service providers, according to IHS Inc.
February 4, 2013
Texas Producers Using, Recycling More Water
An update conducted last year of a Texas water use study found that oil and gas producers are using more water for hydraulic fracturing (fracking), but they’re also recycling more, making it important to distinguish between water “use” and “consumption.”
January 18, 2013
Ethane, Propane Prices Plumbed Five-Year Depths Last Year
Ethane and propane spot prices during the second half of last year were near or below the bottom of their 2006-2010 range due to an overabundance of supply, the U.S. Energy Information Administration (EIA) said Tuesday.
January 16, 2013
Hess to Spend 40% of E&P Budget on U.S. Shale Prospects
Hess Corp. said Wednesday it plans to spend $6.8 billion on capital expenditures (capex) in 2013, with the largest share — $2.7 billion, or 40% of the exploration and production (E&P) budget of $6.7 billion — devoted to unconventional resources.
January 11, 2013
Ohio Severance Tax Proposal Could Be Revisited in 2013
Republican leaders in the Ohio General Assembly indicated that they will give some consideration to Gov. John Kasich’s proposal to impose new severance taxes on hydraulic fracturing (fracking) and natural gas liquids (NGL) in 2013, after declining to do so in 2012.
December 24, 2012
Range’s 2013 Capex Targets Marcellus, Mississippian Lime
Range Resources Corp. expects to spend about 85% of its $1.3 billion 2013 capital expenditures (capex) budget on liquids-rich and oil projects, predominately in wet areas of the Marcellus Shale and through horizontal drilling in the Mississippian Lime, the Fort Worth, TX-based company said Wednesday.
December 13, 2012
Atlas Pipeline Expands with Cardinal Purchase
Atlas Pipeline Partners LP (APL) on Monday agreed to pay $600 million for all of the operating assets of privately held Cardinal Midstream LLC, which would give it cryogenic processing plants, associated gathering pipelines and a gas treatment business that includes facilities in the Woodford, Eagle Ford, Haynesville and Fayetteville shales, as well as the Granite Wash and Avalon formations.
December 6, 2012
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