(Kristian Helgesen/Bloomberg)

North Sea fields face more job cuts as slump impairs viability

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The North Sea, first tapped in the 1960s, has seen production fall by more than half from a peak 15 years ago as fields age and an increase in costs make it one of the world’s most expensive places to operate.
Chevron's massive deep water offshore platform heads to the Gulf of Mexico. The project was slated to start production this year, but that's been delayed after several subsea installation tendons sustained damage. (Chevron)

Chevron says Anchor discovery in Gulf of Mexico shows promise

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Appraisals of the Chevron’s Anchor discovery deep in the Gulf of Mexico indicate the prospect could hold large stores of oil, but more testing needs to be done, Chevron and its partners announced Thursday.
Jack-Up Rig model by China National Petroleum Corporation is on display during the OTC at Reliant Center on Wednesday, May 8, 2013, in Houston. ( Mayra Beltran / Houston Chronicle )

ConocoPhillips to exit deep-water exploration by 2017

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It is part of the company’s plan to sell $1 billion to $2 billion assets a year as it braces for lower oil prices.
(AP Photo/Patrick Semansky)

Noble Energy starts production on Big Bend in the Gulf of Mexico

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Noble Energy has started pulling oil and gas from its Big Bend development deep in the Gulf of Mexico, marking the first of three major offshore projects Noble plans to bring online in the coming months, the Houston oil company announced late Wednesday.
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: “Growth will not be rewarded” amid cheap oil

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This year, Anadarko has sold $2 billion in assets and in the third quarter it wrote off $2.6 billion before taxes on the value of its oil assets, which sank its profits.
Transocean's Discoverer Inspiration drills a test well for Chevron in the Gulf of Mexico St. Malo field. (Transocean)

Transocean, Shell delay delivery of two new drillships

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Transocean and Royal Dutch Shell struck an agreement to delay the delivery of two newbuild ultradeep-water drillships as the offshore drilling industry cools amid a global downturn in oil prices.
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Feds probing death of worker on Gulf drillship

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The worker on the Pacific Santa Ana was killed as the drillship prepared to bore a well for Chevron, BP and ConocoPhillips.
(AP Photo/Patrick Semansky)

Commentary: Transparency and process adjustments boosted Mexico’s second offshore auction

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In less than three months, the Mexican Government has changed the narrative of their oil and gas auctions.
The hull of Chevron's Big Foot oil platform takes a three-month journey from Korea to Texas. (Chevron)

Investigation ongoing into failure at Chevron’s Big Foot project

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Chevron’s beleaguered Big Foot platform has been towed back to South Texas while the company continues to investigate the failure of equipment used to latch the hulking steel platform to the seafloor.
Penguins gather on the coast of Murrell Farm near the northeastern corner of the Falkland Islands. The Falklands have struck oil, potentially pumping billions of dollars into their treasury. One downside is the potential for a major spill in seas where penguins, whales, seals and other marine mammals are drawn to unspoiled coasts.   (AP Photo/Michael Warren)

Argentina accuses Noble Energy of illegally operating in Falkland Islands

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Noble has brushed off the accusations, maintaining that its concession contracts are with the Falkland Islands Government, not Argentina.