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Gulf of Mexico Auction Draws Most High Bids in Years as E&Ps Step Up Competition

Gulf of Mexico Auction Draws Most High Bids in Years as E&Ps Step Up Competition

Interest in the final oil and natural gas auction in the Gulf of Mexico for the year – and potentially the only one until 2025 – was strong on Wednesday, with the highest bid total since 2015. Following a series of delays because of lawsuits, the Interior Department’s Bureau of Ocean Energy Management (BOEM) held…

December 21, 2023
With Energy Industry Win, Next GOM Oil and Natural Gas Auction Set for December

With Energy Industry Win, Next GOM Oil and Natural Gas Auction Set for December

The on-again, off-again federal auction of oil and natural gas tracts in the Gulf of Mexico (GOM) is on again following a court order mandating the sale be held next month. The Bureau of Ocean Energy Management (BOEM) has rescheduled Lease Sale 261 for Dec. 20 after the U.S. Court of Appeals for the Fifth…

November 27, 2023
BOEM Postpones Offshore Oil and Gas Lease Sale 261 Amid Tussle over Rice’s Whale Impacts

BOEM Postpones Offshore Oil and Gas Lease Sale 261 Amid Tussle over Rice’s Whale Impacts

The Bureau of Ocean Energy Management (BOEM) has postponed an offshore oil and natural gas lease sale previously scheduled for Wednesday (Sept. 27), but the sale must occur by Nov. 8, following a federal court order. The order issued Monday by the U.S. Court of Appeals for the Fifth Circuit marks the latest development in…

September 27, 2023
Federal Court Reinstates Six Million Acres Slashed from Upcoming GOM Natural Gas, Oil Auction

Federal Court Reinstates Six Million Acres Slashed from Upcoming GOM Natural Gas, Oil Auction

An offshore oil and gas lease sale scheduled for Wednesday (Sept. 27) in the Gulf of Mexico’s (GOM) Outer Continental Shelf (OCS) must proceed as originally planned with all 73 million acres on offer, following a preliminary injunction granted by the U.S. District Court for the Western District of Louisiana. The Department of the Interior’s…

September 25, 2023
GOM Hurricane Odds Increasing Along with Water Temps, Potentially Impacting Natural Gas, Oil Production

GOM Hurricane Odds Increasing Along with Water Temps, Potentially Impacting Natural Gas, Oil Production

A potentially active hurricane season could shut in a substantial portion of oil and natural gas production in the Gulf of Mexico (GOM) this year, according to an analysis by Enverus Intelligence Research (EIR).  “Should a hurricane disrupt oil and gas production in the GOM, EIR’s mid-impact case estimates 40% of total GOM production would…

August 25, 2023
GOM Gains Six Rigs, Land Drilling Slides in Latest Baker Count

GOM Gains Six Rigs, Land Drilling Slides in Latest Baker Count

Reflecting a notable upswing in the Gulf of Mexico (GOM) and a decline in U.S. land drilling, the domestic rig count rose two units to 761 for the week ended Friday (Feb. 10), according to the latest tally from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week,…

February 10, 2023
Helicopter Crashes in GOM with Four Aboard

Helicopter Crashes in GOM with Four Aboard

The U.S. Coast Guard (USCG) paused its search late Thursday for three Walter Oil & Gas Corp. platform workers and a pilot after a helicopter crashed 10 miles off the coast of Southwest Pass, LA, in the Gulf of Mexico (GOM). The USCG’s Eighth District, headquartered in New Orleans, conducted a search for about eight…

December 30, 2022
Natural Gas Drilling Flat in Latest BKR Count; Permian, GOM Totals Climb

Natural Gas Drilling Flat in Latest BKR Count; Permian, GOM Totals Climb

The U.S. natural gas rig count finished unchanged at 155 for the week ended Nov. 11, while gains in the Gulf of Mexico (GOM) and in the Permian Basin helped drive the combined domestic tally nine units higher to 779, according to updated numbers published Friday by Baker Hughes Co. (BKR). Oil-directed drilling accounted for…

November 14, 2022
Halliburton ‘Very Encouraged’ About 2023 North American Oilfield Services Outlook

Halliburton ‘Very Encouraged’ About 2023 North American Oilfield Services Outlook

International natural gas and oil market activity is accelerating, and North American service capacity is tightening, with pricing “moving up in both markets,” Halliburton Co. CEO Jeff Miller said Tuesday. Miller helmed a conference call with analysts to discuss third quarter results, noting the Houston-based oilfield services (OFS) giant is using the technology honed in…

October 31, 2022
Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook

Natural Gas Forward Prices Plummet as Supply Growth Seen Improving Storage Outlook

Dragged lower by an upward swing in production, moderating weather and an ongoing curtailment of feed gas deliveries to the Freeport LNG facility, natural gas forward prices crumbled during the trading period from Sept. 15 to Sept. 21. Steep declines of more than 70 cents extended from the October contract through the winter season (November-March),…

September 23, 2022
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