A pledge to sell $10 billion more in assets by the end of 2015 and increase its quarterly dividend excited BP plc shareholders Tuesday, sending the stock price up nearly 5% for the day.
Articles from Macondo
A former Halliburton Co. manager was charged by the U.S. Department of Justice (DOJ) on Thursday with destroying evidence linked to the Macondo well blowout in 2010.
Three years after the Macondo well blowout and resulting drilling moratorium, oil and gas exploration has been slowly but surely returning to the Gulf of Mexico (GOM). On Wednesday Royal Dutch Shell plc reported a successful exploratory well at Vicksburg in the deepwater GOM.
A federal judge in Louisiana has dismissed a charge against a former BP plc executive accused of obstructing a congressional investigation concerning the Macondo well blowout in April 2010.
Strong liquids and oil growth from the Greater Wattenberg Field in Colorado, and stronger-than-expected natural gas output from the Marcellus Shale, contributed to record volumes in the first quarter by Anadarko Petroleum Corp.
Tony Hayward, who resigned as BP plc Group CEO following the turbulence that followed the the Macondo well blowout in the Gulf of Mexico’s deepwater, has taken over as chairman of UK-based CompactGTL, which has pioneered a modular gas-to-liquids (GTL) system for flared natural gas. Hayward has been running Genel Energy plc, an Anglo-Turkish explorer. He also participated in Vallares plc, an energy fund vehicle backed by a group of investors. Royal Dutch Shell plc is the dominant leader in giant global GTL technology; CompactGTL is on the other end of the spectrum. The smaller plants are designed to harness flared gas from oilfields.
Tony Hayward, who resigned as BP plc Group CEO following the turbulence that followed the the Macondo well blowout in the Gulf of Mexico’s deepwater, has taken over as chairman of CompactGTL, which has pioneered a modular gas-to-liquids (GTL) system for flared natural gas.
Transocean Ltd.’s agreement with the Department of Justice (DOJ) to pay $1 billion in civil penalties related to the 2010 Macondo well blowout in the Gulf of Mexico has been approved by U.S. District Judge Carl Barbier in New Orleans. Transocean had employed nine of the 11 men who were killed when the company’s Deepwater Horizon drilling platform was destroyed. The company already has pleaded guilty to a criminal misdemeanor and agreed to pay a separate $400 million fine to DOJ (see Daily GPI, Feb. 15; Jan. 4).
Transocean Ltd.’s agreement to plead guilty for its role in the April 2010 Macondo well blowout in the Gulf of Mexico has been accepted by a federal court in New Orleans. Transocean owned the Deepwater Horizon drilling platform, which was destroyed in the well blowout, killing 11 men. U.S. District Judge Jane Triche Milazzo accepted the agreed-upon settlement reached in January with the Department of Justice, in which Transocean pleaded guilty to a misdemeanor charge and agreed to pay $400 million in criminal penalties. Transocean also has agreed to pay $1 billion in civil penalties, which is to be decided in a different court.
A subsea survey for the fourth time has confirmed the integrity of the Macondo well and the associated relief wells in the deepwater Gulf of Mexico, BP plc said. The visual inspection by BP and Transocean Ltd., which owned the Deepwater Horizon drilling rig, was to see if residual oil remained trapped under wreckage. The sheen is not recoverable and poses no risk to the shoreline, the U.S. Coast Guard said. No conclusive evidence of hydrocarbons leaking was observed from the surveyed area, but a “white, cloudy substance” appeared to emanate from several places on the overturned rig. Samples were collected, and BP plans to review the results with federal officials.