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Keyword: offshore

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  • Weather Watch: BP Evacuates Nonessential Personnel from GOM Platforms

    09/08/2011 9:40:47 AM PDT · by thackney · 10 replies
    Rig Zone ^ | September 08, 2011 | Saaniya Bangee
    BP has evacuated nonessential personnel from three of its production platforms in the Gulf of Mexico due to Tropical Storm Nate. BP spokesman Daren Beaudo said personnel have been evacuated from the Mad Dog, Holstein and Atlantis platforms in the southern Green Canyon section of the Gulf of Mexico. The storm is expected to move toward the southern tip of Texas but will not make landfall until late Sunday or Monday, according to the National Hurricane Center.
  • BP Doubles estimate for Mad Dog field

    09/07/2011 1:46:39 PM PDT · by Recon Dad · 4 replies
    Fuel Fix ^ | Tom Fowler
    BP says it has drilled a successful appraisal well in a previously untested northern segment of the Mad Dog field in the Gulf of Mexico, leading it to double the size of the potential resource. The well, drilled by BHP Billiton on behalf of the unit operator BP, is in Green Canyon block 738, about 140 miles south of Grand Isle, LA., in about 4,500 feet of water. The well encountered about 166 net feet of hydrocarbons in the objective Miocene hydrocarbon-bearing sands and discovered an oil column of more than 300 feet. Combined with successful appraisals in Mad Dog...
  • Workers slowly returning to Gulf oil and gas platforms

    09/06/2011 6:59:23 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | September 5, 2011 at 1:10 pm | Tom Fowler
    Energy companies have started returning workers to offshore oil and gas production platforms in the wake of Tropical Storm Lee, but weather conditions continue to slow efforts. BP, the largest producer in the Gulf, said offshore conditions are improving steadily but high wind gusts are still limiting many helicopter flights out of Louisiana. Vessels leaving Port Fourchon, a key supply hub for the Gulf, are also continuing to experience rough seas, BP said in a statement. BP expects to begin returning crews to offshore facilities Tuesday morning. Shell, the No. 2 producer is continuing to redeploy personnel to its Western...
  • Steffy: ‘Gulf of Mexico standoff: Exxon, U.S. battle over big find’

    08/18/2011 8:53:12 AM PDT · by thackney · 27 replies
    Fuel Fix ^ | August 18, 2011 | Loren Steffy
    Oil companies are once again squaring off with government regulators in the Gulf of Mexico. This time, its Exxon Mobil. The giant oil company is fighting to retain leases for the Julia field, what could be the biggest oil discovery in the Gulf ever, or at least since BP’s Thunder Horse field in 1999. The problem: the government claims Exxon’s leases for the field have expired. The Obama administration has been cracking down on unused offshore leases, which cost the Treasury royalties, the Wall Street Journal reported. Exxon seems to believe getting an extension on the lease was just a...
  • collective bargining

  • Another deep-water drilling rig to leave the Gulf of Mexico

    08/08/2011 10:40:56 AM PDT · by thackney · 7 replies
    Fuel Fix ^ | August 8, 2011 | Brett Clanton
    Another deep-water drilling rig is leaving the Gulf of Mexico amid a continued slowdown in activity in the U.S. offshore basin following the BP oil spill last year. Noble Corp. said its rig, called the Noble Paul Ramano, has taken a 180-day contract with Gujarat State Petroleum Corp. Ltd. to drill six wells offshore Egypt, with an option for four additional wells. The semi-submersible rig, which has been idle in the Gulf of Mexico since June 2010, is expected to start work in the Eastern Mediterranean Sea in October, the Zug, Switzerland-based drilling contractor said in a statement. Many deep-water...
  • Drilling for National Security

    08/08/2011 6:15:38 AM PDT · by cap10mike · 20 replies
    BizPacReview.com ^ | August 8, 2011 | Michael Dorstewitz
    The next presidential election is 15 months away, and 2012 (like most elections) will come down to the mundane, everyday, bread-and-butter issue of economics. I submit that the biggest economic indicator is the price of gasoline. Back in 2006, Nancy Pelosi railed about high gasoline prices, asserting that they were the result of “Big Oil” running the government. Barack Obama picked up on this theme during his 2008 presidential bid, and said he "felt the pain" of those who had to pay exorbitant gas prices.
  • Gulf oil and gas production coming back online

    08/01/2011 4:55:44 AM PDT · by thackney
    Fuel Fix ^ | August 1, 2011 | Tom Fowler
    Oil and gas production platforms continued to come back on line over the weekend as crews returned to offshore sites that had been evacuated as Tropical Storm Don came into the region late last week. The Bureau of Ocean Energy Management, Regulation and Enforcement reported about 6 percent of the Gulf of Mexico’s oil production (84,000 barrels) and 3.5 percent of the natural production (186 MM cubic feet per day) remained shut-in on Sunday. That’s an improvement over the peak storm-related outages of 11.9 percent of the oil production 6.2 percent of the natural gas production reported on Friday. Evacuating...
  • Shell VP makes case for Alaska drilling

    07/27/2011 10:42:36 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | July 27, 2011 | Jennifer Dlouhy
    Oil and gas drilling in federal waters near Alaska could create tens of thousands of jobs annually and send the government nearly $200 billion in revenue, a Shell Oil Co. executive is set to tell a Senate panel today. Pete Slaiby, vice president of the company’s Alaska operations, is making his case for oil development near Alaska’s coasts before the Senate Oceans, Atmosphere, Fisheries and Coast Guard Subcommittee this morning. The panel is studying whether the U.S. should be doing more to take advantage of emerging economic opportunities in the Arctic region. Shell is asking federal regulators for permission to...
  • Senator Webb to Committee: Include Virginia Provisions in Offshore Energy Bill

    07/21/2011 5:34:57 AM PDT · by thackney · 5 replies
    Jim Webb ^ | July 20, 2011 | Jim Webb & Staff
    Senator Jim Webb today called for the Energy and Natural Resources Committee to incorporate his Virginia Outer Continental Shelf (OCS) Energy Production Act in pending offshore energy legislation this week. “Outer Continental Shelf production has strong support among Virginians and their political leadership,” Senator Webb wrote the Committee’s Chairman and Ranking Member. “I look forward to working with you to ensure that all of Virginia’s OCS energy resources are developed in a timely fashion, through a fair distribution of revenues between the federal and state government, and in an environmentally sound manner.” In his letter Senator Webb also urged the...
  • Webb, Warner push to start offshore [Virginia] oil and gas exploration

    07/07/2011 6:18:16 PM PDT · by GunMage · 18 replies
    The Virginian-Pilot ^ | July 7, 2011 | Bill Bartel
    U.S. Sens. Jim Webb and Mark Warner introduced legislation Wednesday that would speed up the timetable for natural gas and oil exploration off Virginia's coast and expand the state's share of offshore territory. The bill also would require that half of future government revenues from offshore drilling be allocated directly to the state government or spent by federal officials on conservation efforts, transportation improvements and alternative energy projects in Virginia. The two Democrats' proposal goes further in seeking a larger share for Virginia from offshore resources than a House measure co-sponsored by two Hampton Roads congressmen. However, the plan will...
  • Analysis: Latin America Rig Activity Grows

    06/20/2011 5:36:37 AM PDT · by thackney · 2 replies
    Rig Zone ^ | Friday, June 17, 2011 | Karen Boman|
    Latin America oil and gas activity is booming, with year-on-year rig activity increases from April 2010 to April 2011 in Argentina, Brazil, Colombia, Ecuador and Venezuela, according to a recent report by London-based Evaluate Energy. The five countries have experienced at least a 15 percent increase in active rigs from the April 2010 count. In Brazil, the average number of rigs grew from 85 in April 2010 to 108 in April 2011, and in Venezuela, the average number of rigs grew from 88 in April 2010 to 110 in April 2011. However, Colombia has leapfrogged the pair within two years...
  • Diamond Offshore to Move Rig from US GOM to Vietnam

    06/15/2011 9:41:42 PM PDT · by Rabin · 6 replies · 1+ views
    Rigzon (Dow Jones Newswires), ^ | Wednesday, June 15, 2011 | Ryan Dezember|
    Diamond Offshore said that it will move another of its deepwater rigs from the U.S. Gulf of Mexico later this year to drill wells off Vietnam for BP. When the Ocean Monarch is moved, it will be the third Diamond rig to leave the Gulf of Mexico since BP's deadly Deepwater Horizon explosion in April and the subsequent shut-down of deep-water drilling in U.S. waters. Diamond said in a fleet status report that the Ocean Monarch should conclude its current contract with Marathon, for which the driller earned about $290,000 per day, in mid-August.
  • Exxon Mobil announces major Gulf find

    06/08/2011 2:04:55 PM PDT · by thackney · 35 replies
    Fuel Fix ^ | June 8, 2011 | Simone Sebastian
    Exxon Mobil Corp. has made one of the largest oil and gas finds in the Gulf of Mexico in a decade, the company announced today. The oil major said it made two oil discoveries and a natural gas discovery in its Keathley Canyon blocks, including an oil discovery in the company’s first exploration well since last year’s moratorium on deep-water drilling. Exxon expects the combined finds to yield more than 700 million barrels of oil equivalent. More than 85 percent would be oil, the company said. Drilling early in 2010 turned up oil and natural gas at the well 250...
  • Shell says delays in Arctic drilling ‘highly unusual’

    06/02/2011 10:28:39 AM PDT · by thackney · 4 replies · 1+ views
    Bloomberg via Fuel Fix ^ | June 2, 2011 | Katarzyna Klimasinska
    Bloomberg, link only, synopsis below
  • Clinton asked to seek temporary delay of drilling off Cuba (by Sen. Bill Nelson D-Fla.)

    05/23/2011 12:55:41 PM PDT · by thackney · 2 replies
    Oil & Gas Journal ^ | 5/23/2011 | Nick Snow
    US Sen. Bill Nelson (D-Fla.) asked US Sec. of State Hillary R. Clinton to use diplomatic channels to temporarily keep an international consortium led by Repsol SA from drilling for oil off Cuba. Drilling possibly as early as this summer could threaten Florida tourism and is not in US interests, Nelson told her in a May 19 letter. The senator has fought possible development of Cuba’s offshore resources for years in several ways. He has asked Republican and Democratic administrations to withdraw diplomatic letters that the US government exchanges with Cuba every 2 years that enforce the 1977 Maritime Boundary...
  • Why Offshore Investors are Like Osama bin Laden

    05/08/2011 3:25:16 PM PDT · by SeekAndFind · 5 replies
    The Sovereign Society ^ | 05/04/2011 | Mark Nestmann
    U.S. citizens and permanent residents who invest offshore resemble Osama bin Laden more than they might wish to admit. Osama kept a very low profile at his estate in Pakistan. He had no telephone or Internet service. He even burned his trash, rather than set it out for collection. News reports claim (not that I believe them) that even Pakistani intelligence authorities knew nothing about his presence in their country. But in the end, the United States found him. Yesterday morning, a team of Navy Seals broke into his barricaded home, assassinated him (along with several other household occupants), and...
  • BP Expects to Resume GOM Drilling by Summer

    04/28/2011 5:59:22 AM PDT · by thackney · 3 replies
    Wall Street Journal via Rig Zone ^ | April 27, 2011 | Guy Chazan
    BP says it expects to resume drilling in the Gulf of Mexico by the summer, less than 18 months after a rig it had leased there exploded, killing 11 workers and triggering a catastrophic oil spill. Company officials spoke as BP reported results that showed the repercussions of the Deepwater Horizon disaster continue to weigh on its balance sheet. Fergus MacLeod, BP's head of investor relations, told analysts that BP is working toward a "phased resumption of activities [in the Gulf] in the middle of the year," subject to regulatory approvals. He said BP would only restart if it could...
  • Energy in America: EPA Rules Force Shell to Abandon Oil Drilling Plans

    04/25/2011 6:28:52 AM PDT · by thackney · 77 replies
    Fox News ^ | April 25, 2011 | Dan Springer
    Shell Oil Company has announced it must scrap efforts to drill for oil this summer in the Arctic Ocean off the northern coast of Alaska. The decision comes following a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits. The move has angered some in Congress and triggered a flurry of legislation aimed at stripping the EPA of its oil drilling oversight. Shell has spent five years and nearly $4 billion dollars on plans to explore for oil in the Beaufort and Chukchi Seas. The leases alone cost $2.2 billion. Shell Vice President Pete Slaiby says obtaining...
  • Spill's Toll on Oil Output Grows Clearer

    04/20/2011 8:13:35 AM PDT · by thackney · 3 replies
    Wall Street Journal ^ | 4/20/2011 | ÁNGEL GONZáLEZ
    One year after the BP PLC oil spill, Gulf of Mexico energy output is beginning to show the impact of the Obama administration's 10-month freeze on deep-water drilling. Offshore oil production, most of which comes from the Gulf, is expected to average 1.55 million barrels a day this year, down 13% from 2010, according to the U.S. Energy Information Administration. Following the April 20, 2010, blast on the Deepwater Horizon drilling rig operated by BP and the subsequent oil spill, the Obama administration stopped awarding permits for deep-water drilling until late February. The drilling suspension, along with a new, slower...