Deepwater

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.

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.

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.

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%.

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%.

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%.

Unocal Corp. said it will cut about 200 positions from its Gulf Coast region exploration and production operations, which will reduce its total work force by about 7%, as part of a restructuring operation designed to improve its overall cost structure and profitability and better position the unit for ongoing exploratory success. The program also is expected to include some asset sales in the region by the end of the year.

Though additional wells need to be drilled before the total proved reserves are accurately measured, Murphy Oil Co. announced Thursday that its Front Runner South prospect in Green Canyon Block 339 offshore Louisiana has exceeded expectations. The reserve estimate is expected to be more than the pre-drill projection of 40-60 MMboe.

Exploration successes in its deepwater Gulf of Mexico drillingprogram helped to triple reserve replacement to 269% last year forHouston-based Ocean Energy Inc., a positive sign that otherindependents hope to mimic as fourth quarter results are announcedin the next few weeks. Ocean Energy’s over-the-top numbers may notbe matched, but analysts believe independents’ reserve replacementswill be up, averaging around 3%.