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ConocoPhillips will funnel $15.8 billion into its capital spending program next year, largely targeting growth in North America and shale regions, the company announced Friday.
Chevron announced a $36.7 billion capital budget for 2013, focused on expanding its oil and natural gas exploration and production activity, while allocating fewer dollars to its downstream arm.
After a year of paring down its asset portfolio and maneuvering its way through litigation threats, BP has a plan for growing its business by focusing on deepwater oil and gas exploration, where it plans to increase its rig fleet by 40 percent by 2014, company executives told investors at a Monday meeting.
The Obama administration decision to block BP from new government contracts and offshore energy leases could ripple across the Gulf of Mexico, hurting drilling contractors throughout the region, industry groups charged Friday.
No one expects Wednesday’s sale of drilling rights in the western Gulf of Mexico to break any records. But for the offshore drilling industry, that may be a good thing. Analysts noted that a less-than-stellar auction could be evidence that industry is confident that future sales will take place on a predictable schedule.
News of Noble Energy’s deepwater Gulf of Mexico oil find came amid disappointing reservoir results from its exploration well in the Falkland Islands.
Before last week’s fatal fire at one of Black Elk Energy’s oil production platforms, the five-year-old firm had racked up more than 300 documented mistakes and violations offshore, according to federal regulators who cracked down on the Houston-based company Wednesday.
Federal investigators today issued a broad subpoena to Black Elk Energy in connection with the lethal fire Friday on one of the company’s oil platforms in the Gulf of Mexico.
Offshore oil and gas regulators are investigating what went wrong on board one of Black Elk Energy’s production platforms in the Gulf of Mexico when it exploded on Friday, seriously injuring four workers, killing another and leaving one more missing.
A new analysis by Quest Offshore concludes government approvals of drilling permits is back to pre-Macondo levels, but the activity is tied to a surge in wells at existing facilities, not wildcats.