This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. billion cash. The price represents a premium of.
In its January 2023 Short-Term Energy Outlook , the US Energy Information Administration (EIA) forecasts that crude oil production in the United States will average 12.4 In 2022, US crude oil production averaged an estimated 11.9 EIA based the forecast on expectations of crude oil prices and infrastructure capacity additions.
Secretary of the Interior Sally Jewell announced that the latest oil and gas lease sales for federal waters in the Gulf of Mexico garnered $872,143,771 million in high bids on 329 tracts covering 1,707,358 acres. The area will be offered to industry again in 2016 under the current Five Year Offshore Oil and Gas Leasing Program.
Marathon Oil Corporation announced that its Droshky development in the deepwater Gulf of Mexico has begun production on time and under budget. This marks the first new deepwater production since the Obama Administration halted drilling after the Deepwater Horizon accident.
Beaudreau announced that Interior will offer more than 40 million acres for oil and gas exploration and development in the Gulf of Mexico in March lease sales. BOEM estimates the proposed sale could result in the production of approximately 1 billion barrels of oil and 4 trillion cubic feet of natural gas.
BP announced a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico (GOM). The Tiber well was drilled to a total depth of approximately 35,055 feet (10,685 metres) making it one of the deepest wells ever drilled by the oil and gas industry. The well found oil in multiple Lower Tertiary reservoirs.
The New Mexico Environmental Improvement Board (EIB) adopted by a vote of four to three greenhouse gas reduction regulations—called the most stringent in the US—that will reduce global warming pollutants through a regional cap on greenhouse gas emissions. New Mexico Greenhouse Gas Cap-and-Trade Regulation.
Shell Oil Company is now producing oil from what it says is the world’s deepest subsea well at its Perdido Development. miles) below the water’s surface, is located in the Tobago Field 200 miles southwest of Houston in the ultra-deep water of the Gulf of Mexico. Perdido produced its first oil and gas on 31 March 2010.
The US and Mexico have signed an agreement on the exploration and development of oil and natural gas reservoirs along the United States’ and Mexico’s maritime boundary in the Gulf of Mexico. The US-Mexico maritime boundary (and Western Gap) in the Gulf of Mexico. The Western Gap.
The US Bureau of Ocean Energy Management (BOEM) has completed a draft environmental impact statement regarding multiple oil and gas lease sales tentatively scheduled between 2012 and 2017 in the Western and Central Gulf of Mexico planning areas, offshore the states of Texas, Louisiana, Mississippi and Alabama.
In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels, according to the US Energy Information Administration (EIA). In 2021, Texas’s annual crude oil and lease condensate proved reserves increased by 12% (1.9
The US Department of the Interior will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. The Gulf of Mexico is a cornerstone of the United States’ energy portfolio.
The US Department of the Interior held a 39-million acre lease sale in the Gulf of Mexico. Secretary of the Interior Ken Salazar announced that the Central Gulf of Mexicooil and gas lease sale attracted $1,704,500,995 in high bids for tracts on the US outer continental shelf offshore Louisiana, Mississippi and Alabama.
Beaudreau released the final details for an oil and gas lease sale that will offer more than 20 million acres offshore and will make available all unleased areas in the Western Gulf of Mexico Planning Area. Earlier post.).
The Bureau of Safety and Environmental Enforcement (BSEE) initiated the first drill designed to deploy critical pieces of advanced well control equipment to the ultra-deep seabed of the Gulf of Mexico in an effort to exercise the oil and gas industry’s response to a potential subsea blowout. MWCC capping stack. Source: MWCC.
The US Department of the Interior’s (DOI) Bureau of Ocean Energy Management (BOEM) will hold the consolidated Central Gulf of Mexico Lease Sale 216/222 in New Orleans on 20 June 202012. Lease Sale 216/222 is the last remaining sale scheduled in the 2007 – 2012 Outer Continental Shelf Oil and Natural Gas Leasing Program.
The Gulf of Mexico Research Initiative (GRI) Research Board announced that eight Research Consortia will be funded for the next three years with a total of $112.5 million to study the effects of the Deepwater Horizon oil spill in the Gulf of Mexico. Project Title: Gulf of Mexico Integrated Spill Response Consortium.
It was not the legislative intent of Congress for OPA to limit an oil spill victim’s right to seek full compensation from the responsible party. In an article posted on the Donovan Law Group website, Brian Donovan, attorney, marine engineer and CEO of Renergie, Inc.
The Obama Administration will expand oil and gas development and exploration on the US Outer Continental Shelf, while protecting fisheries, tourism, and places off US coasts that it says are not appropriate for development. The Department of the Interior’s Minerals Management Service estimates that the Gulf of Mexico contains 36-41.5
BP announced today the drilling of a successful appraisal well in a previously untested northern segment of the Mad Dog field in the deepwater US Gulf of Mexico. The well encountered about 166 net feet (50 meters) of hydrocarbons in the objective Miocene hydrocarbon-bearing sands and discovered an oil column of more than 300 feet (91 meters).
Shell has begun production from the Mars B development through Olympus—the company’s seventh, and largest, floating deepwater platform in the Gulf of Mexico. Combined future production from Olympus and the original Mars platform is expected to deliver an estimated resource base of 1 billion barrels of oil equivalent (boe).
Shell announced its third major discovery in the Norphlet play in the deep waters of the Gulf of Mexico with the successful Rydberg exploration well. After more than 10 years of exploration activities in the Eastern Gulf of Mexico, Shell continues to lead industry in exploring this Jurassic play.
US crude oil proved reserves increased for the fifth year in a row in 2013, a net addition of 3.1 billion barrels of proved oil reserves (a 9% increase) according to US Crude Oil and Natural Gas Proved Reserves, 2013 , released today by the US Energy Information Administration (EIA). Combined, these two states added 21.8
Exxon Mobil Corporation announced two major oil discoveries and a gas discovery in the deepwater Gulf of Mexico after drilling the company’s first post-moratorium deepwater exploration well. “This is one of the largest discoveries in the Gulf of Mexico in the last decade.” Graphic: Business Wire).
Chevron announced that crude oil and natural gas production has begun at the ultra-deepwater Jack/St. Malo project in the Lower Tertiary trend, US Gulf of Mexico. Malo fields are among the largest in the Gulf of Mexico. Malo Oil Export Pipeline, and then onto refineries along the Gulf Coast. Earlier post.)
The US-Mexico Transboundary Hydrocarbons Agreement, which establishes a framework for US offshore oil and gas companies and Mexico’s Petroleos Mexicanos (PEMEX) jointly to develop transboundary reservoirs ( earlier post ), was enacted today as part of the Bipartisan Budget Act ( H.J.Res.59 Source: Richard McLaughlin.
Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. GlobalData predicts Asia-Pacific to follow very closely with a capex of $253.1
The US Bureau of Ocean Energy Management (BOEM) will offer more than 20 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. Earlier post.) Earlier post.) billion in high bids for more than 2.4
Australia-based Woodside Energy has made a final investment decision to develop the large, high-quality Trion resource in the deepwater Gulf of Mexico. First oil is targeted for 2028. Trion is located in a water depth of 2,500 meters, approximately 180 km off the Mexican coastline and 30 km south of the Mexico/US maritime border.
A research team led by The University of Texas at Austin has been awarded approximately $58 million to analyze methane hydrate deposits under the Gulf of Mexico. Methane hydrate—natural gas trapped in an ice-like cage of water molecules—occurs in both terrestrial and marine environments. Click to enlarge.
This field is located in the Walker Ridge area in the US Gulf of Mexico (GOM), at a water depth of approximately 2,900 meters (9,500 feet). This development will host the deepest floating, production, storage and offloading (FPSO) unit in the world and will be Shell’s first FPSO in the Gulf of Mexico.
United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. We expect continued strong activity in oil and liquids-rich resource plays in 2012.
The US Department of the Interior reported that Western Gulf of Mexico Lease Sale 238 attracted $109,951,644 million in high bids for 81 tracts covering 433,823 acres on the US Outer Continental Shelf offshore Texas. A total of 14 offshore energy companies submitted 93 bids. The lease sale, which offered 21.6 The lease sale, which offered 21.6
Shell Offshore, a subsidiary of Shell plc, has started production at the Shell-operated Vito floating production facility in the US Gulf of Mexico (GoM). With an estimated peak production of 100,000 barrels of oil equivalent per day, Vito is the company’s first deep-water platform in the GoM to employ a simplified, cost-efficient host design.
A chemical analysis indicates that the source of oil sheens recently found floating at the ocean’s surface near the site of the Gulf of Mexico Deepwater Horizon oil spill is pockets of oil trapped within the wreckage of the sunken rig. The results are published this week in the journal Environmental Science & Technology.
Chevron, ConocoPhillips, ExxonMobil and Shell plan to build and deploy a rapid response system that will be available to capture and contain oil in the event of a potential future underwater well blowout in the deepwater Gulf of Mexico. The companies have committed $1 billion to fund the initial costs of the system.
Concept of the subsea oil recovery system. BP is working to deploy a subsea oil recovery system over the largest leak source in the Transocean Deepwater Horizon Rig that it hopes will capture up to 85% of the oil rising from the sea floor following the sinking of Deepwater Horizon on 22 April. Tags: Oil. Not to scale.
Sempra International’s Mexican business unit Sempra Mexico has been awarded two contracts by Comision Federal de Electricidad (CFE), Mexico’s state-owned electric utility, to construct, own and operate an approximately 500-mile (820-kilometers), $1-billion pipeline network connecting the Northwestern states of Sonora and Sinaloa.
The deeper an oil well, the higher the pressure, and the higher the risks associated with tapping oil from wells. This is called a “gas kick,” which in worst-case scenarios can lead to blowouts. A gas-kick situation is usually accompanied by such a flow scenario. —Steinar Evje.
The Proposed Final Program offers 11 potential lease sales in four planning areas—10 sales in the portions of three Gulf of Mexico Program Areas that are not under moratorium and one sale off the coast of Alaska in the Cook Inlet Program Area. The vast majority of US offshore oil production occurs in the Gulf of Mexico.
More than three-fourths of all oil and gas production in the US Gulf of Mexico has a lower greenhouse gas (GHG) intensity than the basin-wide average, according to a new S&P Global Commodity Insights analysis. However, about 78% of the total production was found to be beneath that average. 900 kgCO 2 e/boe.
Secretary of the Interior Ken Salazar announced the Proposed Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2012-2017 , which makes more than 75% of undiscovered technically recoverable oil and gas resources estimated in federal offshore areas available for exploration and development. Alaska program areas.
Royal Dutch Shell plc (Shell) made a final investment decision in the Stones ultra-deepwater project, a Gulf of Mexicooil and gas development expected to host the deepest production facility in the world. With an FPSO, tankers will transport oil from the Stones FPSO to US refineries, and gas will be transported by pipeline.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content