Royal Dutch Shell’s (ticker: RDS.A) Shell Offshore Inc. finalized its investment decision for the deep-water development, Vito, located in the U.S. Gulf of Mexico. The company said it estimates a forward-looking, breakeven price to be less than $35 per barrel. Vito will be Shell’s 11th deep-water host in the Gulf of Mexico and it is currently scheduled to begin producing
Total S.A. (ticker: TOT) closed the acquisition signed on August 21, 2017, adding around one billion BOE 2P reserves, mainly in OECD countries. The acquisition also increases Total’s production by 160 MBOEPD in 2018, and the company expects to ramp up production to 200 MBOEPD by early 2020. According to Total, this deal makes the company the second-largest operator in
Anadarko Petroleum Corporation (ticker: APC) reported fourth quarter of 2017 net income attributable to common stockholders of $976 million, or $1.80 per share (diluted). Net cash provided by operating activities in the fourth quarter of 2017 was $1.4 billion. For the year ended December 31, 2017, Anadarko reported a net loss attributable to common stockholders of $456 million, or ($0.85)
Hurricane Harvey disrupted U.S. Gulf Coast refining operations from late August to September in 2017, and pausing operations led to record-high U.S. crude oil exports when facilities reopened after the storm, the EIA reported today. In October 2017, crude oil exports from the United States reached a monthly record of more than 1.7 MMBOPD. The EIA’s Petroleum Supply Monthly data
BP appointed Starlee Sykes as its regional president for the Gulf of Mexico and Canada, effective Feb. 1, 2018. Sykes, who will continue to be based in Houston, currently serves as vice president for BP’s global projects organization for offshore projects. “Starlee is uniquely qualified to take on this important role, with more than 20 years of upstream experience
Production from the full five-field West Nile Delta development, the Giza-Fayoum-Raven project, is expected to represent about 30% of Egypt’s current production BP p.l.c. (ticker: BP) will bring five major upstream projects online in 2018. The projects span the globe, with assets coming up in Europe, North Africa and North America. David O’Connor, BP’s head of global projects, gave a
Mexico’s July presidential election, uncertain fate of NAFTA and competition for capital from U.S., Brazil, Argentina and Guyana offshore projects cast a shadows on future of Mexico’s energy reform From Reuters MEXICO CITY (Reuters) – An auction of deepwater oil and gas fields in Mexico this month may prove the last major opportunity for President Enrique Pena Nieto’s government to
Israeli oil and gas company Delek Group Ltd. (ticker: DK), GulfSlope Energy, Inc. (ticker: GSPE) and Texas South Energy, Inc. (ticker: TXSO) have entered into a strategic partnership to pursue oil and natural gas opportunities in the Gulf of Mexico. Delek GOM Investments LLC, a subsidiary of Delek, acquired rights to a 75% record title interest in nine prospects (Photon, Quark, Pomeron, Tau,
New company name and NYSE ticker Talos Energy LLC and Stone Energy Corporation (ticker: SGY) announced today that their boards of directors have unanimously approved the combination of Talos and Stone in an all-stock transaction, creating an offshore-focused E&P company. The new company will be named Talos Energy, Inc. and the NYSE ticker will be “TALO.” Combined company highlights Pro
Q3 highlights Produced an average of approximately 32,600 BOEPD, of which 77% was oil; weather reduced production an average of approximately 1,200 BOEPD EXXI reported a net loss of $31.6 million or ($0.95) loss per diluted share Potential 2018 drilling program Total revenues for Q3 was $117 million EXXI reported eight recompletions, finished in the first nine months of 2017.
On November 1, 2017 Murphy Oil Corporation (Ticker: MUR) announced its entry into the Permian basin along with its financial and operating results for third quarter of 2017, included a net loss of $66 million, or $0.38 per diluted share. Highlights Achieved decade-low lease operating expense of $7.58 per boe, surpassing second quarter 2017 record Disclosed low-cost onshore entry into Midland Basin, currently
March 2018 BOEM sale offers 76.9 million acres for lease – oil & gas development in the Gulf of Mexico U.S. Secretary of the Interior Ryan Zinke has announced the nation’s largest ever federal lease sale—almost 77 million acres in federal waters of the Gulf of Mexico–offshore Texas, Louisiana, Mississippi, Alabama and Florida. The proposed region-wide lease sale, offering an
