Mexico

Denmark-based Maersk Oil has purchased Devon Energy Corp.’s 25% stake in the deepwater Gulf of Mexico Jack prospect in the Lower Tertiary Trend. Maersk in December had agreed to pay $1.3 billion to purchase Devon’s interests in three Lower Tertiary projects: the Jack, St. Malo and Cascade (see Daily GPI, Dec. 23, 2009). However, working interest partners in St. Malo (Chevron Corp.) and Cascade (Petroleo Brasilerio) exercised preferential rights to purchase Devon’s interests (see Daily GPI, Jan. 26). Devon said the aggregate purchase price of its interests in the three prospects remains $1.3 billion; closings are expected by the end of March.

A deepwater Gulf of Mexico (GOM) sidetrack appraisal well south of the Lucius discovery well in Keathley Canyon Block 875 appears to confirm a “major discovery with substantial resource potential,” an executive with Anadarko Petroleum Corp. said Wednesday.

A deepwater Gulf of Mexico (GOM) sidetrack appraisal well south of the Lucius discovery well in Keathley Canyon Block 875 appears to confirm a “major discovery with substantial resource potential,” an executive with Anadarko Petroleum Corp. said Wednesday.

A deepwater Gulf of Mexico (GOM) sidetrack appraisal well south of the Lucius discovery well in Keathley Canyon Block 875 appears to confirm a “major discovery with substantial resource potential,” an executive with Anadarko Petroleum Corp. said Wednesday.

With the previous two weeks’ siege of especially cold weather coming to an end in most areas, prices fell at nearly all points Tuesday. The Florida citygate plunged nearly $5 despite Florida Gas Transmission keeping an Overage Alert Day in place. Northeast citygates, which had been averaging above $10 at times last week, were failing to reach the $7 level as they repeated in having most of the largest declines.

Anadarko Petroleum Corp. and its partners Thursday announced a discovery at the Lucius exploration well in the deepwater Gulf of Mexico’s (GOM) Keathley Canyon, a region that has become a hotbed for explorers this year.

Anadarko Petroleum Corp. and its partners Thursday announced a discovery at the Lucius exploration well in the deepwater Gulf of Mexico’s (GOM) Keathley Canyon, a region that has become a hotbed for explorers this year.

Helix Energy Solutions Group Inc. subsidiary Energy Resource Technology GOM (ERT) said it has made a deepwater oil and gas discovery in the Gulf of Mexico (GOM) at its Jake Prospect in Green Canyon Block 490 that it estimated at 50-75 Bcfe gross on a proved, probable and possible basis. The discovery well was drilled to 13,504 feet in 3,740 feet of water and encountered 134 feet of net oil and gas pay in a single sand interval. ERT said the well has been cased and temporarily abandoned for a future subsea completion. First production is estimated in mid-2011. ERT owns a 25% working interest in both the discovery well and Green Canyon Block 490. ERT also recently discovered 20 feet of oil and gas pay at its 75% owned and operated South Timbalier 145 Field. The discovery was drilled to 14,193 feet true vertical depth. That well is currently being completed and is expected to commence production this month.

James Dupree has been named by BP plc to take over the Gulf of Mexico (GOM) division, which is based in Houston. BP is the largest leaseholder in the GOM. Dupree, who was named senior vice president of the offshore U.S. region, replaces Neil Shaw, who was tapped to lead the company’s Centralized Developments Organization, a global exploration and production unit. Dupree recently was in charge of BP’s oil and gas business in Russia; he previously was in charge of activities in Kazakhstan. Dupree was based in Houston from 2000 to 2002 when he helmed the company’s GOM deepwater production, drilling, exploration and facility fabrication unit.