Post Tagged with: "Gulf of Mexico"

Talos Energy provides updates on pending acquisitions and U.S. Gulf Of Mexico operations

Talos Energy provides updates on pending acquisitions and U.S. Gulf Of Mexico operations

Oil and Gas 360


HOUSTONJan. 31, 2020 /PRNewswire/ — Talos Energy Inc. (“Talos” or the “Company”) (NYSE: TALO) today announced the filing of a preliminary Schedule 14C information statement with the Securities and Exchange Commission (“SEC”), an important …

Photo: Chevron Corp. / Chevron Corp.

Barry caused 330,000 barrel drop in Gulf oil production

Source: Houston Chronicle


The evacuation of oil platforms in the Gulf of Mexico during Hurricane Barry caused oil production there to fall more than 330,000 barrels in July, the U.S. Energy Information Administration said Wednesday.

The agency estimates more than …

October 9, 2019 - 1:30 pm Closing Bell Story‎, Offshore
BP Divests Alaska for $5.6 Billion

BP Divests Alaska for $5.6 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360

BP sells its entire Alaskan business to Hilcorp for a total consideration of $5.6 billion
BP (stock ticker: BP), through its subsidiary BP Alaska, has agreed to sell its entire business

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

From Reuters


President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.

Trump, who has …

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

From The Houston Chronicle


The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring.

U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in …

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

From Reuters


Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.

The United States imposed tariffs on imported …

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

From CNBC


An escalating trade war between the world’s two largest economies is negatively impacting the outlook for U.S. crude shipments, energy analysts have warned, amid fears that China could soon dramatically reduce its intake of American oil.

Trade tensions …

Source: Occidental Petroleum

Oxy Lowers Production Guidance on Legacy Anadarko Assets

From The Houston Chronicle


With Occidental Petroleum finalizing its $38 billion acquisition of Anadarko Petroleum last week, Oxy is now lowering its oil and gas production guidance for the legacy Anadarko assets.

For the rest of this year, Oxy said …

Source: Tyler Losier

Occidental Finance Chief Pledges to Act Quickly to Pare Acquisition Debt

From Reuters


Occidental Petroleum Corp (OXY.N) expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the company’s finance chief said on Monday.

Cedric Burgher, in his first public remarks since the …

Source: Caliber Midstream

Caliber Midstream Makes North Dakota Acquisition

By Tyler Losier, Energy Reporter, Oil & Gas 360

Caliber Midstream acquires North Dakota assets from American Midstream Partners
Caliber Midstream Holdings L.P., headquartered in Denver, Colorado, has acquired crude oil gathering and transportation assets in McKenzie county, North Dakota

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

Brent Oil in Bear Market as China-U.S. Trade Tensions Mount

From Reuters


Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.

During the session, Brent traded …

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360

Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin
Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture

Source: Royal Dutch Shell

Shell Invests in New Deep-Water Gulf of Mexico Project, Sells Assets to Equinor and Noreco

By Tyler Losier, Energy Reporter, Oil & Gas 360

Shell Offshore Inc. makes final investment decision for PowerNap deep-water project in U.S. Gulf
Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc (stock ticker: RDS-A, RDS-B), has reached a

BP Profit Again Outstrips Forecasts, Lifted by Higher Oil Output

BP Profit Again Outstrips Forecasts, Lifted by Higher Oil Output

From Reuters


A strong rise in oil and gas production helped BP (BP.L) offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.

BP’s second quarter contrasts with Total (TOTF.PA) and …

Source: Lime Rock Resources

Buyer Revealed in Range’s $634 Million Appalachian Asset Sale

By Tyler Losier, Energy Reporter, Oil & Gas 360

Lime Rock Resources purchases 350,000 net surface acres of overriding royalty interests from Range Resources Corporation

Lime Rock Resources, the E&P arm of private equity firm Lime Rock Partners, has closed

Talos Energy Increases Borrowing Base, Announces Hedges

Talos Energy Increases Borrowing Base, Announces Hedges

By Bevo Beaven, Editor, Oil & Gas 360, with Olivier Goodrich

Gulf of Mexico explorer Talos Energy (stock ticker: TALO) has added three new lenders to its credit facility and bumped its borrowing base to $850 million from the previous

Source: NOAA

Intensifying Storm Cut Half U.S. Gulf Coast Oil Output, Closes Coastal Refinery

From Reuters


An intensifying tropical storm in the U.S. Gulf of Mexico on Thursday cut more than half the region’s oil output, with energy companies evacuating staff from nearly 200 offshore facilities and a coastal refinery.

Oil firms shut more …

Source: NOAA

Strengthening Storm Set to Hit Louisiana With a Foot of Rain

From Bloomberg


System could become a hurricane Friday and slam coast Saturday, one-third of Gulf oil output shut as firms evacuate workers

A gathering storm in the Gulf of Mexico that’s already flooding New Orleans could grow into a hurricane …

New JV in the Gulf of Mexico

New JV in the Gulf of Mexico

By Tyler Losier, Energy Reporter, Oil & Gas 360

GulfSlope Energy teams up with unnamed private company
Houston-based GulfSlope Energy (stock ticker: GSPE) has signed a letter of intent to form a joint venture with an unnamed, privately held oil

Source: W&T Offshore

W&T Offshore Enters $200 Million PSA

By Tyler Losier, Energy Reporter, Oil & Gas 360

W&T Offshore to purchase Gulf of Mexico interests from ExxonMobil for $200 million
W&T Offshore, Inc. (stock ticker: WTI), a Houston-based independent E&P, has entered into a sales and purchase agreement

Gulf of Mexico in 2019: Some Months May ‘Touch the 2 MMBOPD Ceiling’ – Rystad

Gulf of Mexico in 2019: Some Months May ‘Touch the 2 MMBOPD Ceiling’ – Rystad

Projects record year for U.S. GOM production
Oil production in the US Gulf of Mexico (GoM) is poised to set new records in the imminent future, according to consultant Rystad Energy.

The firm credits Shell’s early startup at its Appomattox

Source: Sentinel Midstream

Another Deepwater Port to Export Crude

By Tyler Losier, Energy Reporter, Oil & Gas 360

Port will be located off the coast of Freeport, Texas
Sentinel Midstream, LLC, through its subsidiary Texas GulfLink, LLC, submitted a license application on May 30 through the U.S. Maritime Administration

Talos CEO says ‘Interested’ in Anadarko’s Gulf of Mexico Assets

Talos CEO says ‘Interested’ in Anadarko’s Gulf of Mexico Assets

From S&P Global Platts

Houston — Gulf of Mexico operator Talos Energy may be interested in buying some of Anadarko Petroleum’s deepwater Gulf of Mexico assets that Occidental Petroleum will acquire in its pending $57 billion purchase of that company, …

Source: Shell First Quarter 2019 Results Presentation

Shell Starts Production at Appomattox

By Tyler Losier, Energy Reporter, Oil & Gas 360

 
Deeper water targets available with new Gulf of Mexico platform
Royal Dutch Shell plc (stock ticker: RDS.A), through its subsidiary Shell Offshore Inc., brought its Appomattox floating production system online

BP To Boost Gulf of Mexico Spending as Shale-Focused Rivals Pull Back

BP To Boost Gulf of Mexico Spending as Shale-Focused Rivals Pull Back

From Reuters

BP Plc on Monday announced new production units in the Gulf of Mexico, enhancing its standing as the largest producer there at a time when rival global oil majors are scrambling to expand vast U.S. onshore shale drilling.…

Murphy Oil Goes Big with $1.375-Billion Cash Deal

Murphy Oil Goes Big with $1.375-Billion Cash Deal

Murphy buys seven producing fields, four development projects from LLOG
By Richard Rostad, analyst, Oil & Gas 360

Murphy Oil (ticker: MUR) continues to consolidate its position in the Gulf of Mexico, as the company acquired a major asset in

Strong Well Results in the Gulf: Talos Energy’s Zama-2 ST1 Appraisal Well Reinforces Zama Predictions

Strong Well Results in the Gulf: Talos Energy’s Zama-2 ST1 Appraisal Well Reinforces Zama Predictions

Well flow tested at 7,900 BOEPD, core sets Mexican offshore record with 714 feet of whole core
Zama will ‘be impactful for the company and for the Mexican economy’ – Talos CEO Duncan
Talos Energy Inc. (stock ticker: TALO, $TALO)

Shell to Sell Interest in Gulf of Mexico Caesar-Tonga Asset to Delek for $965 Million

Shell to Sell Interest in Gulf of Mexico Caesar-Tonga Asset to Delek for $965 Million

Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, signed an agreement yesterday to sell its 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Delek CT Investment LLC, a subsidiary of Delek

W&T Offshore Says Apparent High Bidder on 15 Blocks in GOM Lease Sale

W&T Offshore Says Apparent High Bidder on 15 Blocks in GOM Lease Sale

W&T Offshore Announces Increase in Prospective Acreage as the Apparent High Bidder on 15 Blocks in the Latest Gulf of Mexico Lease Sale

Talos Energy Hopes to Consolidate in the Gulf

Talos Energy Hopes to Consolidate in the Gulf

Targets range from small privates to supermajor-owned assets
By Richard Rostad, analyst, Oil & Gas 360

Talos Energy (ticker: TALO) announced fourth quarter results and reserves today, showing $306.3 million in net income, or $5.66 per share. While most of