U.S. Offshore Oil Lease Sale Weakest Since 2016
A major sale of oil and gas leases in the U.S. Gulf of Mexico on Wednesday generated $93 million in high bids, the lowest total for any U.S. offshore auction since 2016, reflecting caution in the drilling industry amid a steep slide in oil prices.Firing up offshore drilling is a crucial part of U.S. President…
W&T Strikes Oil in US Gulf of Mexico
Oil and natural gas producer W&T Offshore has discovered oil at the Gladden Deep prospect in Mississippi Canyon block 800 in the deepwater Gulf of Mexico.W&T is operator of the well, which is one of 14 planned for the drilling program under the Monza JV. The company owns a 17.25% interest in the discovery.Gladden Deep is located in approximately 3…
US Buyers Turn to Offshore Crude
U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.Those two companies produce notable amounts of crude oil that refiners have settled on as the immediate replacement for the heavy Venezuelan crude that U.S.
Oil Companies Make Few Bids in US Offshore Lease Auction
Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing tepid interest in the region for the second time this year.Oil giant Exxon Mobil Corp was awarded 25 blocks, the largest of any company, followed by BP Plc with 19 high bids and Hess Corp and Equinor…
Deepwater Survey Completed in Working Oilfield
Fairfield Geotechnologies completes Gulf of Mexico Ocean Bottom Node surveyFairfield Geotechnologies announces the successful completion in May 2018 of the Stampede deepwater ocean bottom node survey, located in the Green Canyon area of the Gulf of Mexico. The field, operated by the Hess Corporation, is in approximately 3,500 ft. of water.
China to Cut US Oil Imports Amid Trade Spat
Chinese oil buyers will keep taking crude from the United States through September, but plan to reduce future purchases to avoid a likely import tariff amid a trade spat between the world's two largest economies, multiple industry sources said.Beijing has put U.S. energy products, including crude oil and refined products…
U.S. Crude Liftings for Asia to Hit New High in July
Asia's U.S. crude imports hit all-time high in May as WTI discount to Brent falls to widest in three years. The volume of U.S. crude oil arriving in Asia is expected to hit a new high in July as Asian refiners sought arbitrage supplies to replace Middle Eastern crude after prices for Gulf grades rose, traders said on Wednesday. U.S.
BSEE : Investigation Report into Subsea Jumper Leak
The Bureau of Safety and Environmental Enforcement (BSEE) released the panel investigation report on the May 11, 2016 subsea jumper leak on a platform operated by Shell Offshore, Inc. The leak from Green Canyon Block 248 occurred on Subsea Well #4, resulting in an estimated release of 1,926 barrels of oil.
Total Strengthens GoM Presence with Samson Deal
French oil and gas company Total has agreed to buy Samson Offshore Anchor LLC, in a deal which Total said would strengthen its presence in the Gulf of Mexico region. Samson Offshore Anchor LLC holds a 12.5 percent interest in four blocks covering the Anchor discovery, one of the most significant recent discoveries in the Gulf of Mexico (GoM), USA.
Newest Outpost for US Crude Exports: India
India is set to emerge as a key market for American crude exports in coming months, as refineries in that country are ramping up "test" purchases of U.S. grades to diversify their imports. U.S. exports recently set a weekly record with nearly 2 million barrels of crude a day sent overseas. But shipments to India have been rare, with just a few deliveries since the U.S.
IOC to Lift U.S. Crude for December Delivery
Indian Oil Corp, the country's largest refiner, has bought two new types of U.S. crude for December delivery as it tests different grades from the United States, trade sources said on Tuesday. IOC bought 1 million barrels each of U.S. Southern Green Canyon (SGC) and WTI Midland crude likely from a Chinese trader, the people said, speaking on condition of anonymity.
Platts to Publish U.S. Crude Prices in Asia
Platts, Argus vie for U.S.-Asia crude benchmark. Oil pricing agency S&P Global Platts said on Thursday it planned to publish U.S. crude prices at the close of the Asian trading day starting in December as U.S. exports to the region have risen. The Platts announcement follows the launch last year by rival price agency Argus Media of U.S.
US Crude Sails to Asia as OPEC Weighs More Cuts
Oil tankers carrying around 10 million barrels of U.S. crude are en route to Asia, according to shipping data and trade sources, as U.S. producers take advantage of favorable prices to ship to the region while OPEC ponders further supply cuts next week. At least eight tankers are in transit, sources said and the shipping data in Thomson Reuters Eikon showed…
South Korea Increasingly Looks to Buy Brent Crude Oil
Seek more oil from Europe, Africa; Brent-Dubai spread narrowest since August 2015. Oil buyers in South Korea are expected to take advantage of relatively cheap Brent against Dubai and step up purchases of low-sulphur crude in early third quarter, reducing demand for the Middle East oil, four refining sources said on Friday.
BHP Billiton to invest in Mad Dog Phase 2
BHP Billiton today announced that the Board has approved expenditure of US$2.2 billion for its share of the development of the Mad Dog Phase 2 project in the Gulf of Mexico. BHP Billiton holds a 23.9 per cent participating interest in the Mad Dog field. BP, the operator, holds a 60.5 per cent participating interest…
MatthewsDaniel Completes Heidelberg Marine Warranty
MatthewsDaniel informs it has completed its Marine Warranty Services for Anadarko on the installation of the Heidelberg spar in the Gulf of Mexico. The installation was done utilizing the semisubmersible crane vessel Thialf. MatthewsDaniel provided project engineering review and attendance monitoring for…
Chevron Hits at Anchor Appraisal
Chevron Corporation today announced the successful appraisal of the Anchor discovery in the Lower Tertiary Wilcox Trend. “The positive results of our appraisal work at Anchor indicate a significant discovery of potentially hub class scale,” said Jay Johnson, executive vice president Upstream, Chevron Corporation.
Rapid Mooring Support in the Gulf of Mexico
Subsea services provider InterMoor Inc. provided Anadarko Petroleum Corporation with rapid hook-up services for its Heidelberg truss spar in the deepwater Gulf of Mexico after stepping in at short notice for another contractor. The company hooked up the 80,000 bbl/d spar to three mooring lines in Green Canyon block 860…
2H Offshore Awarded Hess and Enbridge Verification Contracts
2H Offshore, an Acteon company, has been awarded two separate contracts, one by Hess Corp. (Hess) and a second contract by Enbridge Energy Co. (Enbridge), to verify the design, fabrication and installation phases of the Steel Catenary Risers (SCRs) for the Stampede field development in the Gulf of Mexico. The Stampede field is operated by Hess.
Schlumberger Launches Two New Multiclient Surveys in the Gulf
Schlumberger announced today the completion of the acquisition of approximately 2,750 sq km of two new full-azimuth multiclient seismic surveys over the Garden Banks and Green Canyon areas in the Gulf of Mexico. These acquisitions are the initial phase of the Revolution X and Revolution XI surveys and will provide full-azimuth…