Mexico

Lower 48 onshore oil and gas reserves are a huge energy pond, about 1.1 Qcfe worth, and the Marcellus Shale is its biggest fish. According to new research from Calgary-based ITG Investment Research, “the Marcellus dwarfs any other resource at 330 Tcfe, followed by the Eagle Ford and Bakken [shales] at 152 Tcfe (25 billion boe) and 72 Tcfe (12 billion boe), respectively.

The strong resurgence in exploration and production (E&P) activity in the deepwater Gulf of Mexico (GOM) puts the offshore region well on its way to a “new equilibrium” in 2013, according to Wood Mackenzie.

The strong resurgence in exploration and production (E&P) activity in the deepwater Gulf of Mexico (GOM) puts the offshore region well on its way to a “new equilibrium” in 2013, according to new research by Wood Mackenzie.

More than a month after Hurricane Isaac bedeviled Gulf of Mexico (GOM) producers, Apache Corp. on Wednesday said its GOM production facilities that had been shut in due to the storm are back online. Earlier in the week Noble Energy Inc. said its GOM operations were back to normal post-Isaac.

EPL Oil & Gas Inc. last week agreed to pay $550 million to a unit of Hilcorp Energy Co. for a package of shallow water Gulf of Mexico (GOM) shelf oil and natural gas interests. W&T Offshore Inc. also built it GOM portfolio last week, after agreeing to pay $228 million to acquire all of Newfield Exploration Co.’s remaining properties in the GOM, a 78-block inventory that covers more than 430,000 gross acres.

EPL Oil & Gas, Inc. said Monday it will pay $550 million to a unit of Hilcorp Energy Co. for a package of shallow water Gulf of Mexico (GOM) shelf oil and natural gas interests.

Brazil’s Petroleo Brasileiro SA (Petrobras) has launched production at the deepwater Gulf of Mexico (GOM) Chinook field, connecting its second well to the first floating, production, storage and offloading (FPSO) vessel platform in U.S. waters.

Oil and gas operators continued to report mostly minor damage as a result of Hurricane Isaac, and production in the Gulf of Mexico (GOM) was slowly returning to normal Thursday, the Bureau of Safety Environmental Enforcement (BSEE) said.

Workers have returned to most oil and gas production facilities in the Gulf of Mexico (GOM), but more than a quarter of natural gas production that was shut-in ahead of the arrival of Hurricane Isaac last week remained shuttered Wednesday, according to the Bureau of Safety Environmental Enforcement (BSEE).