Deepwater

BP Boosts GOM Output by 50,000 Boe/d with Thunder Horse Expansion

BP plc said Monday the Thunder Horse South Expansion project in the deepwater Gulf of Mexico has begun operations early, one year ahead of schedule and $150 million under budget, boosting output from the main platform by 50,000 boe/d gross.

January 23, 2017
Anadarko Raises Production Guidance as Expanded Offshore Arsenal Fuels Onshore Growth

Anadarko Raises Production Guidance as Expanded Offshore Arsenal Fuels Onshore Growth

Anadarko Petroleum Corp.’s advantages in the Gulf of Mexico are stacking up, providing cash flow to fund a plethora of U.S. onshore opportunities, as the super independent eyes a stronger production growth rate over the next five years.

December 20, 2016
Mitsui Taking Stakes in Four Promising Shell Deepwater Blocks

Mitsui Taking Stakes in Four Promising Shell Deepwater Blocks

A unit of Japanese trading house Mitsui & Co. Ltd. is buying into some potential powerhouse deepwater Gulf of Mexico assets within the Mars-Ursa Basin owned by Royal Dutch Shell plc that could capture at least 100 million boe in recoverable reserves.

December 6, 2016

BHP Captures Deepwater Prize in Mexico’s Auction With $624M Bid

Australia’s BHP Billiton on Monday was named the first deepwater partner ever for Mexico’s state-owned Petroleos Mexicanos (Pemex), winning the right to jointly explore two blocks in the prolific Perdido Fold Belt. Mexico also awarded the rights to explore other Perdido and Salina del Istmo Basin blocks, which all together may hold total reserves of 10.6 billion boe.

December 5, 2016

BP Pulls Trigger on $9B Mad Dog Expansion in Deepwater GOM

BP plc on Thursday sanctioned a “leaner” $9 billion Mad Dog Phase 2 project for the Gulf of Mexico, which it said highlighted its long-term commitment to the country “despite the current low oil price environment.”

December 1, 2016
Global Offshore Oil Production Climbing, With Strong Contribution from U.S., Says EIA

Global Offshore Oil Production Climbing, With Strong Contribution from U.S., Says EIA

Global offshore oil production, including lease condensate and hydrocarbon natural gas liquids, last year reached its highest level in 16 years and accounted for almost 30% of worldwide output, with the United States one of the leaders, according to the U.S. Energy Information Administration (EIA).

October 26, 2016

Most North American Basin Pricing Still ‘Unsustainable,’ Says Schlumberger Exec

The global oil supply is tightening, and markets should move closer to balance by the end of this year, but it’s too early for “any improvement in price” to affect exploration investments because operator confidence and balance sheets still need to be repaired, Schlumberger Ltd.’s operations chief said Tuesday.

August 31, 2016

Shell’s Brutus/Glider Properties in GOM Sold to EnVen for $425M

Royal Dutch Shell plc agreed Monday to take $425 million from EnVen Energy Corp. for the Brutus platform and Glider production system in the deepwater Gulf of Mexico (GOM).

August 29, 2016

GOM Oil and Gas Discoveries Go Deep, With Facilities to Match

With 54% of the natural gas and 82% of the oil production in the Gulf of Mexico (GOM) coming from wells drilled in 1,000 feet (305 meters) of water or more, offshore operators are honing their techniques in the deepwater, according to an analysis by the Department of Interior’s Bureau of Ocean Energy Management (BOEM).

August 18, 2016
Offshore Drilling Contractors Mapping More Rough Seas Ahead

Offshore Drilling Contractors Mapping More Rough Seas Ahead

Diamond Offshore Drilling Inc., mirroring recent comments by Noble Corp. plc and Ensco plc, is expecting volatility “for some time to come” for the offshore oil and gas industry, regardless of whether commodity prices have stabilized, CEO Marc Edwards said Monday.

August 1, 2016
1 5 6 7 8 9 23