Category: Gulf of Mexico

Oil companies bid big bucks for Gulf drilling rights

Oil and gas companies pledged hundreds of millions of dollars for drilling rights in the Gulf of Mexico on Wednesday, during a high-stakes auction that demonstrated their enthusiasm for offshore development and marked BP’s return to the bidding after a suspension related to the Gulf oil spill.  More »

BP makes first bids on Gulf drilling rights since post-spill suspension

BP is bidding on new drilling rights in the Gulf of Mexico for the first time in nearly two years, after a government contract suspension forced the oil giant to sit out on three government auctions of the territory.  More »

Energy XXI chief: Massive Gulf merger will drive oil field growth (photos)

Energy XXI’s $1.5 billion deal to buy another offshore oil and gas producer is a rare breed in the energy industry, as corporate acquisitions have given way to a slew of asset transactions in recent years. CEO John Schiller says it’s a chance to capitalize on synergies that oil producers don’t typically get when offshore leases simply trade hands.  More »

Houston companies to form major Gulf oil producer in $1.5B deal

Energy XXI said Wednesday it is planning to pay $1.5 billion to buy EPL Oil & Gas, a rare corporate acquisition that would make it the largest public oil producer in the shallow waters of the Gulf of Mexico.  More »

BP to separate US onshore business as it cuts assets

BP is planning to split its U.S. onshore oil and gas business into a separate company by next year, a bid to become more competitive with smaller rivals that dominate the region’s shale reservoirs, executives said Tuesday.  More »

Study: Offshore wind turbines can weaken hurricanes (video)

Offshore wind turbines could help prevent destruction caused by hurricanes by draining the storms of their deadly winds, according to a new scientific study that highlights a previously unknown benefit of the technology.  More »

BP starts pumping crude at major deep-water Gulf project

BP said Monday it began pumping crude from a new well at one of its four major deep-water hubs in the Gulf of Mexico last week, the second major startup in U.S. offshore region this year.  More »

Feds ask judge to streamline BP trial penalty proceedings, order oil spill harmful

U.S. authorities asked a federal judge Thursday to streamline the “penalty phase” of the BP oil spill trial by ordering that the 2010 disaster caused serious harm to the environment, residents and businesses around the Gulf of Mexico.  More »

BP official says it’s getting closer to EPA agreement

The Obama administration suspended BP’s ability to get new federal contracts in 2012  More »

Among “pharmacists”, engineers and ex-gangmembers, the oilfield is a great equalizer

In hindsight, some of the best parts about working in the field were the stories I accumulated. In my mind, one of the funniest stories actually happened on my very last job (well, so far in my career anyways) on a rig.  More »

Newpark selling waste unit for $100 million

Newpark Resources says it wants to focus on its core business activities that include drilling fluids and mats.  More »

Deep-water giant begins production in Gulf of Mexico field (photos)

Royal Dutch Shell said Tuesday it had started production from its Olympus platform, the first of several new platforms expected to push oil production in the Gulf of Mexico to a record level by 2016.  More »

Kill attempt to come for well spewing gas off Gulf coast

Crews continued to work Friday to stop natural gas flowing from a drilling rig off the Louisiana coast, and the Coast Guard said workers had managed to cut the flow in half.  More »

Feds will wait til March to open sealed Gulf bids

Oil companies that hope to nab new drilling leases near the U.S.-Mexico boundary in the Gulf of Mexico will have to wait a little longer to see if they were successful.  More »

Ex-BP engineer to seek judge’s recusal from case

Lawyers for a former BP engineer convicted of trying to obstruct an investigation of the company’s 2010 Gulf oil spill plan to seek the disqualification of the federal judge who presided over the trial last month.  More »