Post Tagged with: "offshore"

BOEM Offers GOM Leases at Reduced Royalty Rate for Shallow Water Leases

BOEM Offers GOM Leases at Reduced Royalty Rate for Shallow Water Leases

In a step towards fulfilling the Five-Year National Outer Continental Shelf (OCS) Oil and Gas Leasing Program, U.S. Secretary of the Interior Ryan Zinke made known on July 13th the availability of 75.9 million acres in the Gulf of …

July 17, 2017 - 4:38 pm
Onshore Mexico Bid Round 2.3 Will Yield $2 Billion in Investment

Onshore Mexico Bid Round 2.3 Will Yield $2 Billion in Investment

Mexico’s continuing oil and gas reform:  21 of 24 onshore oil and gas blocks auctioned off in Round 2.3

The winners of the Mexican Energy Reform Onshore Bid Round 2.3 were announced today. Of the 24 blocks available through the …

July 13, 2017 - 5:31 pm
President Trump, Secretary Zinke Begin Comment Period for 5-Year Offshore Oil and Gas Lease Program

President Trump, Secretary Zinke Begin Comment Period for 5-Year Offshore Oil and Gas Lease Program

“This is a truly amazing moment in the energy sector…” – Secs. Perry, Zinke and Pruitt

At an event on Thursday, June 29, 2017, in order to help kick off what the Trump Administration has dubbed “Energy Week,” …

June 29, 2017 - 6:03 pm
Reduced Risk of Shale Lured Energy Capital Onshore, but Which Delivers the Better Reward—Onshore or Offshore?

Reduced Risk of Shale Lured Energy Capital Onshore, but Which Delivers the Better Reward—Onshore or Offshore?

EnerCom analysts take a look

Advancements in unconventional drilling have fundamentally changed the types of oil and gas projects that attract capital.

When hydraulic fracturing and horizontal drilling unlocked vast hydrocarbon resources onshore in the U.S. shale basins about a …

June 26, 2017 - 4:33 pm
Energy XXI Gulf Coast Plans to Spud Development Well in June

Energy XXI Gulf Coast Plans to Spud Development Well in June

Energy XXI Gulf Coast releases Q1 results

Energy XXI Gulf Coast, Inc. (ticker: EXXI), the post-bankruptcy incarnation of Gulf of Mexico operator Energy XXI, reported operational and financial results for the first quarter of 2017.

Energy XXI Gulf Coast Plans to Spud Development Well in June

Highlights:

  • Produced an average of
May 22, 2017 - 5:56 pm
BP’s First 9 Offshore Wells in West Nile Delta Project are Producing, Gas Going to Egypt: BP

BP’s First 9 Offshore Wells in West Nile Delta Project are Producing, Gas Going to Egypt: BP

BP said it started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt, eight months ahead of schedule.

 

First gas was exported to Egypt’s national grid on March 24, 2017 …

May 11, 2017 - 2:10 pm
ExxonMobil Takes $2.8 Billion Dive Offshore

ExxonMobil Takes $2.8 Billion Dive Offshore

ExxonMobil acquires a 25% stake in Eni’s Mozambique offshore project

ExxonMobil (ticker: XOM) announced Friday that the company has purchased a 25% indirect interest in the natural gas Area 4 block offshore Mozambique from Eni (ticker: E) for $2.8 billion. …

March 10, 2017 - 1:14 pm
VAALCO Energy Announces Successful Workover of Avouma 2-H Well, Producing 2,700 BOPD Gross

VAALCO Energy Announces Successful Workover of Avouma 2-H Well, Producing 2,700 BOPD Gross

Company Net Production is Averaging 4,600 BOEPD

VAALCO Energy, Inc. (ticker: EGY) announced today that the Avouma 2-H well on the Avouma Platform offshore Gabon is back on production after utilizing a hydraulic workover unit to replace a failed Electric …

January 5, 2017 - 4:49 pm
ExxonMobil Announces New Gas Discovery Offshore Papua New Guinea

ExxonMobil Announces New Gas Discovery Offshore Papua New Guinea

ExxonMobil says the Muruk-1 well has encountered “high-quality” sandstone similar to the Hides field

ExxonMobil (ticker: XOM) announced a new natural gas find Wednesday off the coast of Papua New Guinea. The Muruk-1 well encountered “high-quality” sandstone reservoirs similar to …

December 28, 2016 - 4:17 pm
Anadarko Sees Oil Production Growth with Freeport-McMoRan Deepwater Assets

Anadarko Sees Oil Production Growth with Freeport-McMoRan Deepwater Assets

Anadarko closes $2 billion Freeport-McMoRan Gulf of Mexico asset acquisition, ramps up Permian activity, announces GOM oil discoveries

Houston-based Anadarko Petroleum Corp. (ticker: APC) announced Thursday that the company has closed on its acquisition of Freeport-McMoRan’s (ticker: FCX) Gulf of …

December 16, 2016 - 6:02 pm

Offshore Driller Rowan Creates New Company with Saudi Aramco

Rowan Companies plc (ticker: RDC) and the Saudi Arabian Oil Company (Saudi Aramco) have signed, through their subsidiaries, an agreement to create a 50/50 joint venture to own, operate, and manage offshore drilling rigs in Saudi Arabia.

The new joint …

November 23, 2016 - 10:36 am
Hess Moves Guyana Resource Estimate Closer to 1.4 Billion BOE

Hess Moves Guyana Resource Estimate Closer to 1.4 Billion BOE

Hess’ Liza-3 well offshore Guyana confirms a major oil discovery with breakeven below $40 per barrel

Hess Corporation (ticker: HES) released its third-quarter earnings Wednesday, reporting a loss of $1.12 per share, but the company also updated the markets on …

October 26, 2016 - 4:11 pm
Experts Predict Trouble Ahead for Gulf of Mexico Oil & Gas Operators

Experts Predict Trouble Ahead for Gulf of Mexico Oil & Gas Operators

New supplemental collateral requirements could severely damage independent Gulf of Mexico drillers, producers – Part 2

On Sept. 12, 2016, the federal government initiated big changes to its bonding requirements for the financial liability for decommissioning oil and gas assets …

September 20, 2016 - 6:50 pm
Statoil Celebrates 5 Billion Barrels from Statfjord

Statoil Celebrates 5 Billion Barrels from Statfjord

On Monday minister of petroleum and energy Tord Lien together with Statoil (ticker: STO), Centrica (ticker: CNA) and ExxonMobil (ticker: XOM) celebrated the 5 billion barrels of oil equivalent delivered by Statfjord since first oil in 1979.

The minister got

September 20, 2016 - 5:21 pm
U.S. Offshore Drilling Changes Drastically on Sept. 12, 2016

U.S. Offshore Drilling Changes Drastically on Sept. 12, 2016

Part 1: What is NTL No. 2016-N01?

In July an agency under the executive branch of the U.S. government delivered what might be a killshot for a portion of the leaseholders and operators working to extract oil and natural gas …

September 9, 2016 - 10:30 am
Two Caspian Sea Projects Could Add 200 MBOPD by Year-End

Two Caspian Sea Projects Could Add 200 MBOPD by Year-End

Even as Russia discusses a production freeze with Saudi Arabia, Caspian Sea projects could add to the glut

Oil prices have improved this week in part thanks to renewed talks amongst Saudi Arabia and Russia to stabilize global oil prices. …

September 8, 2016 - 5:27 pm
Did a White House Appointee just Kill Deepwater Drilling in the Gulf of Mexico?

Did a White House Appointee just Kill Deepwater Drilling in the Gulf of Mexico?

U.S. Offshore Drilling Changes Drastically after Sept. 12, 2016 – Part 1

In July an agency under the executive branch of the U.S. government delivered what might be a killshot for a portion of the leaseholders and operators working to …

September 6, 2016 - 6:59 pm
U.S. Offshore Rig Count Drops 42% Week-Over-Week

U.S. Offshore Rig Count Drops 42% Week-Over-Week

The U.S. rig count increased by 8 rigs in the week ended September 2, according to data from Baker Hughes Industries, reaching 497 in total. The number of oil rigs increased by 1 to 407, while gas rigs rose 7 …

September 2, 2016 - 4:33 pm
W&T Offshore Announces Debt Exchange Results

W&T Offshore Announces Debt Exchange Results

W&T Offshore announced early participation results for the company’s tender offer to exchange its 8.5% senior notes due 2019 ($900 million aggregate principal outstanding) for new second lien paid-in-kind (PIK) toggle notes due 2020 and third lien PIK toggle notes …

August 31, 2016 - 6:51 pm
Anadarko Petroleum  – Day Two Breakout Notes

Anadarko Petroleum – Day Two Breakout Notes

Anadarko presents at EnerCom’s The Oil & Gas Conference®

 During Anadarko’s breakout session, management was asked the following questions:

  • As you roll into next year, how are you thinking about CAPEX and cash flow given the probable lack of divestiture
August 16, 2016 - 5:34 pm
VAALCO Energy Increases Share in Flagship Asset by 11%

VAALCO Energy Increases Share in Flagship Asset by 11%

VAALCO finances purchase of 3.23% participating interest with $5 million loan and cash on hand

Houston—based VAALCO Energy (ticker: EGY) announced today that the company purchased an additional 3.23% interest in its flagship Etame asset located offshore of the Republic …

August 2, 2016 - 6:17 pm
Shell Announces 125 MMBOE Discovery in the Deep Water Gulf of Mexico

Shell Announces 125 MMBOE Discovery in the Deep Water Gulf of Mexico

Shell’s Fort Sumter discover in the Gulf of Mexico will help the company reach 900 MBOEPD of offshore production by the end of the decade

Royal Dutch Shell (ticker: RDSA) announced the discovery in the Mississippi Canyon Block 566, 73 …

July 29, 2016 - 2:30 pm
Industry Needs Minimum of Upper $50s for Sustainable Recovery: BHI

Industry Needs Minimum of Upper $50s for Sustainable Recovery: BHI

But BHI Chairman Predicts “Continued Uncertainty” in Global Oil Markets

Before the markets opened today, Baker Hughes (ticker: BHI) hosted the company’s second quarter conference call. BHI reported an adjusted net loss of $0.90 per share, with revenue falling 39.3% …

July 28, 2016 - 6:02 pm
EnerCom Conference Presenter Focus:  Contango Oil & Gas Company

EnerCom Conference Presenter Focus: Contango Oil & Gas Company

MCF will present at EnerCom’s The Oil & Gas Conference® on Mon. Aug. 15, 2016

Contango Oil & Gas Company (ticker: MCF) is an exploration and production company headquartered in Houston, TX, with operations in the Gulf of Mexico, onshore …

July 20, 2016 - 5:49 pm
Schlumberger Seals the Deal on a $300 million Contract in Australia

Schlumberger Seals the Deal on a $300 million Contract in Australia

Schlumberger (ticker: SLB) subsidiary OneSubsea secured an engineering contract for the development of the Greater Enfield project off the northwest coast of Australia from Woodside Energy.

Woodside announced on June 26, that the company would move forward with the development …

July 15, 2016 - 4:39 pm
Noble Sells 3% Interest in Tamar for $369 Million, Plans to Drill New Well

Noble Sells 3% Interest in Tamar for $369 Million, Plans to Drill New Well

Noble sells down its working interest in Tamar field as part of Israel’s approved natural gas regulatory framework

Noble Energy (ticker: NBL) announced the sale of a 3% working interest in the Tamar field offshore Israel today for $369 million, …

July 5, 2016 - 6:13 pm
Exxon Mobil and Hess Corp. Announce World-Class Oil Discovery

Exxon Mobil and Hess Corp. Announce World-Class Oil Discovery

The equivalent of 1,400 Gulf of Mexico Blocks: Tillerson

Exxon Mobil (ticker: XOM) and Hess Corp. (ticker: HES) announced initial results from the Liza-2 exploration well in the Stabroek block of offshore Guyana.

This announcement follow the success of the …

June 30, 2016 - 5:56 pm
Delek Announces $3 Billion Contract for Leviathan Gas

Delek Announces $3 Billion Contract for Leviathan Gas

13 BCM of natural gas from the Leviathan Field for combined cycle natgas generation

Noble Energy’s (ticker: NBL) Tel Aviv-based partner in the Leviathan offshore natural gas field, Delek Group (ticker: DGRLY) reached an agreement with IPM Beer Tuvia Ltd. …

May 31, 2016 - 5:59 pm
Lost at Sea: Offshore Drillers Face Difficult Road Ahead

Lost at Sea: Offshore Drillers Face Difficult Road Ahead

Oil prices have continued to move upward in recent weeks, and that has spurred the talk of rig counts possibly increasing and production coming back online. As oil prices flirt with the $50 mark, this may become a reality to …

May 24, 2016 - 6:50 pm
GOM Drilling: Federal Government Proposes New Offshore Regulations

GOM Drilling: Federal Government Proposes New Offshore Regulations

New offshore regulations targeted at preventing emergency situations like BP’s Macondo come with $31-billion price tag: API

The Obama administration will issue new regulations for offshore oil and gas operators this Thursday. The regulations will require more preventative measures to …

April 14, 2016 - 6:35 pm