Category: Gulf of Mexico

Scalia ruling for BP could grant 6-month freeze on oil spill payouts

A favorable ruling from Supreme Court Justice Antonin Scalia could buy BP at least another six months to avoid hundreds of millions of dollars in disputed oil spill payments to businesses claiming damages from the 2010 disaster, legal experts said Thursday.  More »

BP asks Supreme Court to keep hold on spill payments in place

A federal judge on Wednesday lifted a hold on BP’s oil spill settlement payments to businesses who say the 2010 Gulf of Mexico disaster wrecked the economy and inflicted big financial losses.  More »

BP asks appeals court to keep blocking payouts to businesses

BP asked a federal appeals court late Wednesday not to issue a mandate that could unravel a court order that has halted payments to businesses in its $9.2 billion oil spill settlement.  More »

BP investors win bid to form class in oil spill lawsuit

Some BP investors can form a class to sue the company over allegations it misled shareholders on how much oil spilled into the Gulf of Mexico in 2010, a federal judge ruled late Tuesday.  More »

BP will take Gulf spill settlement fight to Supreme Court

BP said Wednesday it will take the courtroom fight over its multibillion-dollar oil spill settlement to the Supreme Court.  More »

Supreme Court may be BP’s only recourse in oil spill fight, legal experts say

In the wake of a courtroom defeat this week, BP’s top brass is still mulling over whether to take the company’s legal fight over its multibillion-dollar oil spill settlement to the Supreme Court. But the high court likely will not take up the case even if the London oil company requests its judgment, legal experts said Tuesday.  More »

Pemex reserve replacement fell dramatically in 2013, filing shows

Pemex replaced only two thirds of the oil it produced last year with new reserves, according to regulatory filings.  More »

Offshore industry prepares for hurricane season

With hurricane season just days away, forecasters are predicting a more mild summer, but offshore producers are preparing nonetheless.  More »

Former official: Mexico JVs may take longer than expected

A former top energy official for Mexico on Thursday said it may be too early for Pemex to promise to farm out land rights to private companies looking to develop massive energy resources that the state-run oil company is expected to acquire soon.  More »

Commentary: Offshore rules cause some uncertainty, but goal is safety

George O. Wilkinson, a Houston partner with Vinson & Elkins, explains why uncertainty is emerging as federal regulators move toward performance-based rules for oil and gas operators in the Gulf of Mexico  More »

Apache selling deep-water Gulf projects for $1.4 billion

An Apache Corp. subsidiary will sell its non-operated interest in the massive Lucius and Heidelberg deep-water Gulf of Mexico developments as part of a $1.4 billion deal with Freeport-McMoRan Copper & Gold subsidiary, according to a Thursday morning announcement from Apache.  More »

Failure marked Shell’s Gulf quest before massive discovery

A decade before Royal Dutch Shell fired up production at the largest offshore facility in the world, it drilled an expensive dry hole.  More »

Post-Macondo regulations slow even Shell’s Mars B drilling

Royal Dutch Shell executives said Tuesday new regulators that require weekly testing of the equipment that failed BP in the massive 2010 Gulf of Mexico oil spill have added as much as a month to drilling time at its massive new offshore project.  More »

Pemex seeking partners for Eagle Ford and deep-water work

The booming Eagle Ford doesn’t stop at the Texas border, but for most producers, it essentially does — at least until now. That will soon change.  More »

Gulf researchers spot deep-sea creatures living near spill site

Samatha Joye and her team of researchers came back from a nearly month-long excursion to the Gulf of Mexico with a surprising discovery: Aquatic life appears to be flourishing again at the bottom of the ocean near the site of the massive 2010 oil spill.  More »