Mexico

The Gulf of Mexico (GOM) officially may be open to deepwater drillers but the offshore production industry is leery about returning to a region that has been forever changed, a Deloitte LLP executive said last week.

Although the Bureau of Energy Management, Regulation and Enforcement (BOEM) has not formally announced it, analysts believe that a Central Gulf of Mexico (GOM) oil and natural gas lease sale scheduled for March 2011 will probably be shelved.

ExxonMobil Corp. is selling three packages of operated and nonoperated properties in the Gulf of Mexico that currently produce 7 MMcf/d of natural gas and 2,900 b/d of liquids, or 4,066 boe/d, The Oil & Gas Asset Clearinghouse LLC said. The packages includes 61 producing wells and 17 shut-in wells, as well as seven platforms in three field areas. Net monthly cash flow is estimated at $4 million. The Mississippi Canyon 281 prospect, which ExxonMobil operates, has an estimated 100-300 million bbl. Also operated by the producer and for sale are Eugene Island 330 and Green Canyon 19/60. In addition, Eugene Island 314/315, a nonoperated block, is for sale. The data room is to open in late November, with bids due by Dec. 21. For information contact Heather Adamson at (832) 601-7679 or Cory Talash at (832) 601-7685.

High domestic production, mild weather and the absence of significant hurricane activity in the Gulf of Mexico have contributed to the decline in Henry Hub spot natural gas prices, as well as a large inventory build, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for November.

ExxonMobil Corp. is selling a package of operated and nonoperated properties in the Gulf of Mexico that currently produce 7 MMcf/d of natural gas and 2,900 b/d of liquids, or 4,066 boe/d, The Oil & Gas Asset Clearinghouse LLC said.

High domestic production, mild weather and the absence of significant hurricane activity in the Gulf of Mexico have contributed to the decline in Henry Hub spot natural gas prices, as well as a large inventory build, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for November.

W&T Offshore Inc. said Thursday it is acquiring stakes in six offshore producing fields in the Gulf of Mexico (GOM) from Shell Offshore Inc. for an estimated $450 million in cash and $50 million in debt.

W&T Offshore Inc. said Thursday it is acquiring stakes in six offshore producing fields in the Gulf of Mexico (GOM) from Shell Offshore Inc. for an estimated $450 million in cash and $50 million in debt.

The coastal region of the Gulf of Mexico (GOM) — historically America’s energy breadbasket — is subject to $350 billion of cumulative economic losses due to environmental degradation, particularly that caused by climate change, according to a new report sponsored by Entergy Corp., which counts the region as part of its backyard for operations.