Houston-based W&T Offshore Inc. has added to its Gulf of Mexico (GOM) portfolio after claiming stakes in three blocks producing for the deepwater Heidelberg development operated by Anadarko Petroleum Corp.
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The Mexican upstream regulator has called off what would have been thesecond deepwater farmout by Petroleos Mexicanos (Pemex) because of a lack of interest, while also authorizing the state-owned producer to carry out additional exploration work on the project.
The Mexican government has set the final fiscal terms for next year’s auctions of deepwater oil and natural gas assets in the Gulf of Mexico (GOM).
As operators use their capital for faster-to-market onshore prospecting, offshore exploration has declined and with it dealmaking, according to IHS Markit.
Mexico’s upstream hydrocarbons regulator on Thursday authorized a new auction for shallow water natural gas and oil exploration and production (E&P) leases, while also dropping a block from its ongoing deepwater round.
Big Oil companies Chevron Corp. and Total SA have agreed to partner to explore seven prospects covering 16 blocks in U.S. deepwater of the Gulf of Mexico (GOM).
Driven by declines in the offshore Gulf of Mexico (GOM), the United States dropped four rigs during the week ended Aug. 4, according to data released by Baker Hughes Inc. (BHI).
Mexico plans to offer 30 blocks for deepwater exploration in the fourth auction of the Round 2 series in what one analyst said was “an all-out effort” by the nation’s energy authorities to follow up on recent upstream auction successes as part of the 2013 energy reform.
Final investment decisions (FID) within the global upstream sector are on pace to double from 2016, marking a positive turning point for the long-depressed oil and natural gas markets.