Mexico

BP plc is selling its interests in the Pompano and Mica fields in the deepwater Gulf of Mexico to Stone Energy Offshore LLC, a unit of Stone Energy Corp. Stone Energy is to pay BP $204 million in cash under an agreement that includes the sale of BP’s 75% operated working interest (WI) in the Pompano field and assets and 50% nonoperated WI in the Mica field, together with a 51% operated WI in Mississippi Canyon block 29 and interests in certain leases near the Pompano field. Completion of the sale is subject to the pre-emption rights of various co-working interest owners. The companies expect to complete the sale in 2012, BP said. Both the Pompano and Mica fields produce oil and natural gas through the Pompano platform, about 120 miles southeast of New Orleans. First oil was produced from the Pompano field in October 1994 after being discovered by BP and Kerr-McGee in 1985. The Mica field, tied back to the Pompano platform some 29 miles to the north west, began production in 2001.

Better known just a few years ago as a deepwater Gulf of Mexico (GOM) force, Noble Energy Inc. has made some strategic moves in the past few years that have transformed the company and prepared it for double-digit production growth for up to a decade, CEO Chuck Davidson told investors last week.

The race to break through the Midcontinent bottleneck and flow expanding supplies of crude oil, bolstered by shale production to the Gulf of Mexico (GOM) and world markets moved up by about 300,000 b/d with separate announcements last Wednesday of plans to reverse the flow of the Seaway crude oil pipeline, and a possible go-ahead for the Cushing to the GOM southern section of the stalled Keystone XL oil pipeline.

The race to break through the Midcontinent bottleneck and flow expanding supplies of crude oil, bolstered by shale production to the Gulf of Mexico (GOM) and world markets moved up by about 300,000 b/d with separate announcements Wednesday of plans to reverse the flow of the Seaway crude oil pipeline, and a possible go-ahead for the Cushing to the GOM southern section of the stalled Keystone XL oil pipeline.

Anadarko Petroleum Corp.’s decision five years ago to build an onshore position in the United States to rival its massive Gulf of Mexico holdings is more than paying off, and in places that many have put way down on the go-to list. Land that the independent has long controlled in northern Colorado holds a massive liquids-rich resource potential of 500 million to 1.5 billion boe net, executives have disclosed this week.

Better known just a few years ago as a deepwater Gulf of Mexico (GOM) force, Noble Energy Inc. has made some strategic moves in the past few years that have transformed the company and prepared it for double-digit production growth for up to a decade, CEO Chuck Davidson told investors Tuesday.

Saying they have put last year’s Gulf of Mexico (GOM) deepwater well blowout behind them, Anadarko Petroleum Corp. senior officials last week tried to look past third quarter red ink to what they consider hot domestic shale and African liquefied natural gas (LNG) prospects.

Anadarko Petroleum Corp. officials see the Macondo deepwater Gulf of Mexico (GOM) well blowout from last year as no longer a threat to the company’s future earnings results as it was in the recently completed third quarter. A $4 billion settlement with BP plc has resolved all of the major pending litigation involving Anadarko.

Saying it has put last year’s Gulf of Mexico (GOM) deepwater well blowout with BP plc behind them, Anadarko Petroleum Corp. senior officials Tuesday tried to look past third quarter red ink to what they consider hot domestic shale and African liquefied natural gas (LNG) prospects.