Tag: gulf of mexico

Saratoga Resources extends forbearance agreements to restructure debt

The Houston firm is extending the terms of its forbearance agreement with holders of $54.6 million in senior debt and 75 percent of holders of $125.2 million in second lien notes until April 30.  More »

Gulf of Mexico drills keep spinning despite oil price plunge

The flurry of drilling may be slowing on land because of falling oil prices, but production in the Gulf of Mexico shows no signs of slowing down, a new report finds.  More »

Feds collect millions in Gulf oil drilling sale, despite falling prices

Slumping oil prices tempered some of the industry’s enthusiasm for new drilling rights in the Gulf of Mexico — but not much.  More »

Feds: Market forces pushing offshore rig counts down

The government’s top offshore energy overseers on Tuesday defended the Obama administration’s approach to oil and gas drilling along the nation’s coastlines, insisting that market forces — not federal regulations — were discouraging the activity.  More »

Chevron’s massive Big Foot platform heads to Gulf of Mexico

With the finishing touches complete, Big Foot shipped out from Corpus Christi on Saturday morning en route to the Gulf of Mexico where it will float in the Walker Ridge area, 225 miles south of New Orleans.  More »

Frank’s International to buy oil-tool firm for $95 million

Both firms have businesses running piping and casing for oil companies that are constructing wells, part of the post-drilling processes that lead firms to extract the first barrels of oil out of the ground.  More »

EIA: Gulf of Mexico production to continue increasing

By 2016, the Gulf will account for about 17 percent of total U.S. crude production.  More »

Federal oil lease sale of western Gulf tracts set for August

The sale will include approximately 4,000 blocks, from nine to 250 miles offshore, in depths ranging from 16 to almost 11,000 feet.  More »

Judge rejects BP appeal on cap for Gulf oil spill liabilities

Barbier said he hasn’t yet determined the actual amount of the civil penalty stemming from the Gulf of Mexico spill, which could run as high as $13.7 billion.  More »

Helix CEO: Producers canceling offshore contracts despite termination fees

The Houston offshore service firm probably won’t make deep cuts to its workforce of 1,600 to cope with the downturn in oil prices, its CEO said, but he acknowledged there “may be some opportunity.”  More »

NASA flight facility concerned with potential offshore drilling

The majority of the area that was proposed for lease off Virginia in 2010 lies within recent NASA mission hazard areas.  More »

Hercules Offshore lays off 30 percent of workforce

Offshore driller Hercules Offshore has laid off 30 percent of its workforce since October, company officials said on a conference call with analysts Thursday.  More »

Columbia Pipeline Partners up in early trading after larger IPO

Shares of CPPL were up by about 19 percent hours after trading began on Friday.  More »

BP urges judges to remove head of oil spill settlement fund

It’s the oil giant’s latest legal effort to limit its losses from the nation’s worst offshore oil spill.  More »

Anadarko to pull back 2015 spending

Anadarko executives said on a Tuesday call with analysts that capital expenditures would fall in 2015, though they offered few specifics.  More »
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