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In a letter to the Texas Workforce Commission, Scott Reiss, head of human resources for APM Terminals in the U.S., said the company is permanently shutting down its operations at East Barbours Cut Boulevard by July 24 and eliminating 109 jobs in the process.
It’s the first time since December that Transocean has drawn more than $100 million in contracts this year, well above the monthly average of $22 million it saw in the first five months of 2015.
Energy XXI will sell a subsea pipeline system in the shallow waters of the Gulf of Mexico for $245 million as part of a broader campaign to shed assets and increase cash.
Harvest, a Houston-based company that focuses on exploration in Venezuela and elsewhere, is giving up three of its seven board seats and nearly half of the company to CT Energy in exchange for at least $32.2 million in proceeds and a long-term strategic partnership.
The equipment failure plaguing Chevron’s massive Big Foot project was an unusual fate for a system that’s been commonly used for years to tether massive oil and gas production platforms to the seafloor.
Shallow-water driller Hercules Offshore is planning to hand ownership of the company to its creditors in a financial restructuring deal that will require it to seek Chapter 11 bankruptcy protection by early July.
Shell said the U.S. Federal Trade Commission has waived, or terminated, the initial antitrust waiting period. The Dutch energy super major said the deal, which was first announced in April, is still on track to close in early 2016.
Enterprise Products Partners evacuates three offshore platforms; other companies watching tropical storm closely
Oil companies and refiners are keeping a close eye on a tropical disturbance in the Gulf of Mexico, but the storm hasn’t shut down operations or triggered evacuations of essential personnel.
Marshall Adkins, director of energy research at Raymond James in Houston, said the moves show there is reason for optimism, but that the deepwater oil and gas sector might be 18 months away from seeing a rebound, as opposed to the quicker recoveries expected in U.S. shale.