Mexico

Anadarko Petroleum Corp., which was a 25% owner of the doomed Macondo well in the deepwater Gulf of Mexico, has agreed to pay BP plc $4 billion to settle claims relating to last year’s well blowout and oil spill and will no longer pursue claims of gross negligence against the oil major. The settlement, which BP said was not an admission of liability, ends a dispute with Anadarko about how to divvy up responsibility to compensate those affected by the tragedy. In May a unit of Mitsui Ltd., which owned a 10% stake in the BP-operated well, agreed to pay nearly $1.07 billion for related damages (see NGI, May 23). Under terms of the settlement, Anadarko agreed to transfer its stake in the Macondo well back to BP, and BP agreed to indemnify Anadarko for some claims, excluding the civil, criminal and administrative fines and potential claims for punitive damages.

Drought-related water shortages in the Midcontinent, flooding in the Marcellus Shale and a slow recovery in the Gulf of Mexico (GOM) failed to deter Halliburton Co.’s North American operations during 3Q2011, CEO Dave Lesar said Monday.

Anadarko Petroleum Corp., which was a 25% owner of the doomed Macondo well in the deepwater Gulf of Mexico (GOM), has agreed to pay BP plc $4 billion to settle claims relating to last year’s well blowout and oil spill and will no longer pursue claims of gross negligence against the oil major.

The Department of Interior considered preventing BP plc from bidding in the Gulf of Mexico (GOM) oil and gas lease sale slated for December but in the end decided against it, Michael Bromwich, head of the Bureau of Safety and Environmental Enforcement, said at a House hearing on Thursday.

A Houston-based oilfield services company Tuesday pleaded guilty to a violation of the Clean Water Act (CWA) in connection with the hydraulic fracturing (fracking) of a natural gas well in Oklahoma, according to the Department of Justice (DOJ).

The Department of Interior considered preventing BP plc from bidding in the Gulf of Mexico (GOM) oil and gas lease sale slated for December but in the end decided against it, Michael Bromwich, head of the Bureau of Safety and Environmental Enforcement, said at a House hearing on Thursday.

An apparent uptick in approved permits in the deepwater Gulf of Mexico (GOM) has boosted investor enthusiasm about the near-term prospects for offshore activity but the backlog of permits issued but not yet drilled paints a different picture, according to an analysis by FBR Capital Markets.

Backlog of permits issued but not yet drilled paints a different picture, says FBR Capital Markets.

Improved development and drainage of shale plays is among the topics researchers at the University of Texas (UT) will investigate as part of an energy partnership agreement signed by UT and Statoil in Austin, TX, Monday.