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. Britain-based BP will add two new subsea production units about two miles (3.2 km) south of its existing giant Thunder
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 the GOM today. Murphy will acquire 26 different GOM blocks from privately-held LLOG, representing a range of assets. These 26
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) reported good results for its Zama appraisal program in Block 7, located in the offshore portion of Mexico’s Sureste Basin in the Gulf
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 Group Ltd (Delek). The total consideration for this deal is $965 million in cash. The field is operated by Anadarko
W&T Offshore Announces Increase in Prospective Acreage as the Apparent High Bidder on 15 Blocks in the Latest Gulf of Mexico Lease Sale
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 this result is due to the company’s derivatives, even if these and other special charges are excluded Talos earned an
Acquisition of Deep Gulf Energy drives pivot By Richard Rostad, analyst, Oil & Gas 360 Kosmos Energy (ticker: KOS) announced fourth quarter results and reserves today, showing $189 million in net income, or $0.43 per share. This is a far better result than the $122 million loss Kosmos reported in Q4 2017, although when derivatives and other special charges are
Talos Energy Inc. (stock ticker: TALO) operator of Block 7 offshore Mexico in a consortium with its partners Sierra Oil and Gas S. de R.L. de C.V. and Premier Oil Plc reported results from its Zama-2 appraisal well, the first of three appraisal penetrations to define resource potential of the Zama discovery. Talos said the Zama-2 appraisal penetration was drilled
Atlantis Phase 3 FID announced BP (stock ticker: BP) has big plans for the Gulf of Mexico, as the company announced several new developments in the GOM today. BP has approved Phase 3 development at the Atlantis field, authorizing a new subsea production system that will be tied into the existing platform. The company will drill eight new wells targeting
Commonwealth LNG Files Draft Resource Report 13 with FERC
From Houston Chronicle Brazilian state oil company Petrobras will terminate more than 50 Houston jobs next year after selling much of its Gulf of Mexico assets into a new joint venture. Petrobras, which has struggled financially amid a nationwide corruption scandal in Brazil, opted to sell its Gulf assets earlier this year into a JV in which it will only
From Houston Chronicle The slow deepwater recovery in the Gulf of Mexico and the rest of the world is now threatened by falling oil prices and the projected cost rise of drilling rigs and other services. A new report Tuesday by research firm Wood Mackenzie highlights how the offshore sector has returned to viability through costs reductions and greater
