Mexico

No single factor caused the Macondo well tragedy in the deepwater Gulf of Mexico (GOM), BP plc said Wednesday. “Rather, a sequence of failures involving a number of different parties led to the explosion and fire which killed 11 people and caused widespread pollution” in the GOM this year.

Mariner Energy Inc. said Thursday afternoon that a fire on an offshore natural gas and oil production platform in the shallow waters of the Gulf of Mexico (GOM) had been extinguished and all crew members were safe. The incident, said the Houston-based producer, was not related to a well blowout.

Obama officials supported the deepwater moratorium in the Gulf of Mexico even though they knew it would have “significant negative economic impact” and would cost up to 23,000 jobs, according to documents that were filed in federal court in New Orleans last week.

Apache Corp. has completed the acquisition of BP plc’s oil and gas operations, acreage and infrastructure in the Permian Basin of West Texas and New Mexico (see Daily GPI, July 21). The Houston-based producer paid $3.1 billion to acquire 10 Permian field areas with estimated proved reserves of 141 million boe, first-half 2010 net production of 15,110 b/d of liquids and 81 MMcf/d of gas, and two operated gas processing plants. The transaction also included 1.7 million gross acres in prospective areas of the basin. BP will continue to operate the properties on Apache’s behalf through Nov. 30. Completion of Apache’s acquisition of BP assets in Canada and Egypt is awaiting approvals.

The head of the federal agency overseeing offshore drilling indicated Tuesday that the moratorium on deepwater drilling in the Gulf of Mexico (GOM) could be lifted in advance of its Nov. 30 deadline, an agency spokesman said.

BP plc last week successfully sealed its runaway Macondo well in the Gulf of Mexico (GOM) with cement. A permanent fix using one of two relief wells is expected to begin in the middle of the month.

Houston-based Plains Exploration & Production Co. (PXP) said Thursday it hopes to raise $1-2 billion by selling its Gulf of Mexico (GOM) portfolio either through third-party joint ventures or through asset sales “to align capital spending with operating cash flow.”

Houston-based Plains Exploration & Production Co. (PXP) said Thursday it hopes to raise $1-2 billion from its Gulf of Mexico (GOM) properties either through third-party joint ventures or through asset sales “to align capital spending with operating cash flow.”

The head of the federal agency overseeing offshore drilling indicated Tuesday that the moratorium on deepwater drilling in the Gulf of Mexico (GOM) could be lifted in advance of its Nov. 30 deadline, an agency spokesman said.