Deepwater

Williams to Transport Oil, Gas for Deepwater Blind Faith Field

Williams said Thursday it has signed agreements to transport oil and natural gas for the life of the leases in the Blind Faith field in the deepwater Gulf of Mexico for joint owners Chevron Corp. and Kerr-McGee Corp. The field has an estimated gross resource potential of more than 100 million boe, and initial production is expected to be 30,000 bbl/d of oil and 30 MMcf/d of natural gas.

October 14, 2005

Apache Swaps Egyptian Assets for Permian Basin Fields

Apache Corp. and Amerada Hess Corp. have agreed to a land swap, with Apache selling its 55% interest in a deepwater section off of Egypt’s coast for $413 million and Hess selling eight fields in the Permian Basin of West Texas and New Mexico for $404 million.

October 14, 2005

Cheniere Stock Soars as Chevron Maintains Stake in Sabine Pass LNG Capacity

Cheniere Energy shares jumped 9% Thursday to $31.25 after the company said in a filing with the Securities and Exchange Commission that Chevron has elected to retain its capacity agreement for 700 MMcf/d of throughput at the proposed Sabine Pass LNG terminal in Louisiana. Chevron had an option to scale back its capacity at the terminal to 500 MMcf/d under a 20-year deal it signed with Cheniere last November.

July 1, 2005

Neptune Deepwater Project Gets Green Light

The Neptune deepwater project has been given the green light by partners Marathon Oil (30%), BHP Billiton (35% and operator), Woodside Petroleum (20%) and Maxus (US) Exploration, a subsidiary of Repsol YPF with a 15% stake. The project is expected to produce 50,000 boe/d, including up to 50 MMcf/d of natural gas, starting in late 2007.

July 1, 2005

Excelerate Readies Offshore LNG Plan for Massachusetts, Working on California

Excelerate Energy LLC, which ramped up operations at its Gulf Gateway liquefied natural gas (LNG) Energy Bridge Deepwater Port offshore Louisiana one month ago, will file an application to build its second facility offshore Massachusetts within the next two weeks, and has begun laying plans for another one offshore California, the president said Thursday.

May 16, 2005

Excelerate Readies Offshore LNG Plan for Massachusetts, Working on California

Excelerate Energy LLC, which ramped up operations at its Gulf Gateway liquefied natural gas (LNG) Energy Bridge Deepwater Port offshore Louisiana one month ago, will file an application to build its second offshore facility offshore Massachusetts within the next two weeks, and has begun laying plans for another one offshore California, the president said Thursday.

May 13, 2005

Unocal Deepwater Well Comes Up Dry Hole; $29M Write-down Expected

Located in Mississippi Canyon Block 941, the well was drilled to a total depth of 29,100 feet to test the deeper Miocene intervals of the 1999 discovery called Mirage. The Mirage drilling program included an initial well drilled to 16,600 feet and a sidetrack that reached a depth of 22,400 feet.

December 16, 2004

Study Forecasts Offshore Oil, Gas Production to Grow 71% by 2015

Offshore oil and natural gas production is forecast to grow to 55 MMboe by 2015, up from its current 39 MMboe/d, with nearly all of the surge coming from deepwater, according to a new study by London-based consultant Douglas-Westwood. Offshore gas production will provide 34% of the world’s resources by then, up from its current 28%, while oil production will provide 39%, up from 35%.

December 6, 2004

Study Forecasts Offshore Oil, Gas Production to Grow 71% by 2015

Offshore oil and natural gas production is forecast to grow to 55 MMboe by 2015, up from its current 39 MMboe/d, with nearly all of the surge coming from deepwater, according to a new study by London-based consultant Douglas-Westwood. Offshore gas production will provide 34% of the world’s resources by then, up from its current 28%, while oil production will provide 39%, up from 35%.

December 2, 2004

Study Forecasts Offshore Oil, Gas Production to Grow 71% by 2015

Offshore oil and natural gas production is forecast to grow to 55 MMboe by 2015, up from its current 39 MMboe/d, with nearly all of the surge coming from deepwater, according to a new study by London-based consultant Douglas-Westwood. Offshore gas production will provide 34% of the world’s resources by then, up from its current 28%, while oil production will provide 39%, up from 35%.

December 2, 2004