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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.
BP announced a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico (GOM). The Tiber well is the deepest yet drilled in the industry. 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.
bp has successfully started oil production at its Argos offshore platform, strengthening bp’s position as a leading producer in the deepwater US Gulf of Mexico. bp now operates five production platforms in the deepwater Gulf of Mexico: Argos, Atlantis, Mad Dog, Na Kika and Thunder Horse. Earlier post.) working interest.
In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. President George W.
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.
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.
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.
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.
Map of basins with assessed shale oil and shale gas formations, as of May 2013. Among the highlights in the 2013 report is a 10-fold increase in the estimate of technically recoverable shale / tight oil from 32 billion barrels (from the EIA’s Annual Energy Outlook 2011 ) to 345 billion barrels. Source: US EIA. Click to enlarge.
In its latest Monday note, energy research company Douglas-Westwood wrote that the Exploration & Production industry (E&P), experiencing rising global hydrocarbon demand as well as rising costs, is facing the technical challenge of the development of High Pressure – High Temperature (HPHT) reserves.
World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Source: Maugeri 2012.
New research from a team at the University of Alberta, Canada, finds that Alberta’s oilsands industry is releasing more pollutants into the Athabasca River, its tributaries and its watershed than previously estimated. An open access article on their study was published online in the journal Proceedings of the National Academy of Sciences.
France-based Technip is acquiring US-based Global Industries for $1.073 billion. Global Industries is a provider of subsea construction and pipelay, engineering, project management and support services. Technip says that the acquisition of Global Industries reinforces its position leadership in the fast-growing subsea market.
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
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. The US Department of Energy (DOE) is providing $41,270,609, with the remainder funded by industry and the research partners. —Peter Flemings.
Work has begun to drill a relief well to intercept and to isolate the deepwater oil well that is spilling oil in the US Gulf of Mexico as a result of the Deepwater Horizon disaster. BP has also carried out a second approved trial injection of dispersants directly into the oil flow at a point close to the main leak on the seabed.
Billions of barrels of oil may be potentially recoverable from residual oil zones in the US, according to initial findings from a study supported by the US Department of Energy’s Office of Fossil Energy (FE). Residual oil zones (ROZs), are areas of immobile oil found below the oil-water contact of a reservoir.
and The Linde Group will expand their partnership to commercialize a new industrial-scale conversion technology needed to upgrade algae biomass into crude oil. Today, this Green Crude Farm is operating year-round and producing barrels of crude oil daily. Sapphire Energy, Inc.
Domestic crude oil production increases sharply in the AEO2014 Reference case, with annual growth averaging 0.8 While domestic crude oil production is projected to level off and then slowly decline after 2020 in the Reference case, natural gas production grows steadily, with a 56% increase between 2012 and 2040, when production reaches 37.6
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.
Anadarko Petroleum Corporation announced that its Shenandoah-2 well in the deepwater Gulf of Mexico encountered more than 1,000 net feet of oil pay in multiple high-quality Lower Tertiary-aged reservoirs. with a 20% working interest; Venari Resources LLC with a 10% working interest; and Marathon Oil Company with a 10% working interest.
University of South Florida researchers say they have definitively connected clouds of degraded underwater oil found in the northern Gulf of Mexico to the Deepwater Horizon well (MC252) through Compound-Specific Isotope Analysis (CSIA). This is a technique that is widely used in the petroleum industry. David Hollander.
US crude oil production for October averaged 5.36 Even though crude production last October had recovered from precautionary platform shut-ins in the Gulf of Mexico in the face of hurricanes Gustav and Ike last September, output levels then were still lower than this October’s by nearly 15%. API Statistics Manager Ron Planting.
Nexans, a leader in the cable industry, has secured a frame agreement with BP Exploration & Production Inc. for deep water umbilical projects in the Gulf of Mexico that could be worth as much as $300 million in total. and Nexans for the Gulf of Mexico, which ran from 2002 to 2008.
Meeting the goal of cutting US oil dependence depends largely on two things, Obama said: finding and producing more oil at home, and reducing dependence on oil with cleaner alternative fuels and greater efficiency. The Administration is pushing the oilindustry to produce on leases already held.
Interjet and Airbus are scheduled to conduct the first Jatropha-based bio-fuel flight in Mexico today using an Airbus A320 aircraft. The aim of the demonstration flight and the project is to speed up the commercialization of aviation bio-fuel in Mexico. Phase one of the project will be the feasibility study.
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.
Crude and lease condensate includes tight oil, shale oil, extra-heavy crude oil, field condensate, and bitumen (i.e., oil sands, either diluted or upgraded). oil shale), and refinery gain. OPEC oil producers are the largest source of additional liquid fuel supply between 2010 and 2040.
In a pre-response to that speech, having successfully advocated for plug-in hybrids like the forthcoming Chevy Volt, we propose that the President follow that speech up with a “realistic and conservative” roadmap to halve our oil use in 10 years. Oil is holding us all hostage, economically and physically. Finally, it’s time to begin.
New Mexico. The number of states with geothermal projects under development also increased, from 12 to 14 over the past six months, with the addition of two oil-field co-production projects in Louisiana and Mississippi. The recession, as the report confirms, is having an impact on the industry, according to the GEA. California.
UK Energy Minister, Charles Hendry MP, unveiled a well-capping device developed by the Oil Spill Prevention and Response Advisory Group (OSPRAG) at the SPE Offshore Europe 2011 conference in Aberdeen. The OSPRAG well-capping device. Click to enlarge. Capping device key facts. To various points of the subsea stack.
Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.
Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.
As one of the outcomes of the “Three Amigos” meeting in Ottawa, Canada Prime Minister Justin Trudeau, US President Barack Obama, and Mexico President Enrique Peña Nieto committed to an “ambitious and enduring” North American Climate, Clean Energy, and Environment Partnership. 50% clean power target.
Researchers from Japan and Mexico have developed a one-step hydrotreatment process over catalysts containing Ni-Mo and solid acids for the conversion of vegetable oils (Jatropha, palm and canola) to renewable diesel and LPG fuels. Jatropha oil produced the highest yield (wt %) of renewable diesel (83.5%), with 4.9%
announced a major discovery on its Davy Jones ultra-deep prospect located in the Gulf of Mexico on South Marsh Island Block 230 in approximately 20 feet of water. The geologic results from this well are important and are redefining the subsurface geologic landscape below 20,000 feet on the Shelf of the Gulf of Mexico.
These forces could snap offshore oil pipelines in the Gulf of Mexico and other hurricane-prone areas, the study suggests. The Gulf of Mexico (GOM) region provides nearly 30% of the United States oil supply and 20% of its natural gas. A hurricane might also create its own spills, the new research indicates.
one of the world leaders in algae-based “Green Crude” oil production, and Phillips 66, an integrated energy manufacturing and logistics company, have entered a strategic joint development agreement aimed at taking production of algae crude oil a significant step toward commercialization. San Diego-based Sapphire Energy, Inc.,
Most Americans oppose President Barack Obama’s ban on deepwater oil drilling in response to BP’s Gulf of Mexico spill, even as they hold BP primarily responsible for the incident, according to a new Bloomberg poll. People say BP must pay, but there’s no sense of impending doom at the hands of the entire industry. ”
The European Parliament is calling for an international ban on the use and carriage of heavy fuel oil on vessels operating in the Arctic, like that which is to apply to the Antarctic from August 2011. Research suggests that about one fifth of the world’s undiscovered hydrocarbon resources may lie in this region.
The Government of Canada has established a Heavy Oil Working Group. Comprising countries such as Canada, Brazil, Colombia, Mexico, the United States and Venezuela, the Heavy Oil Working Group will collaborate on clean energy research to reduce the impact of fossil fuel development. Minister Paradis. Minister Paradis.
Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.
Growth of production of Canadian oil sands. The Canadian oil sands are now poised to become the number one source of US crude oil imports in 2010, according to new research from the IHS CERA Canadian Oil Sands Dialogue. Also certain fields in the Gulf of Mexico and the Middle East have comparable GHG emissions. —“The
An analysis of the US refining sector, based on linear programming (LP) modeling, finds that refining plausibly high volumes of Canadian oil sands crudes in US refineries in 2025 would lead to a modest increase in refinery CO 2 emissions (ranging between 5.4% to 9.3%) from a 2010 baseline, depending upon the supply scenario.
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