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The J. W. McLean offshore drill rig, operated by Transocean Ltd., stands anchored in the Cromarty Firth beyond the prow of the offshore pipelay vessel Deep Energy, operated by Technip SA, in Invergorgon, U.K., on Wednesday, Aug. 6, 2014. (Photographer: Simon Dawson/Bloomberg)

Transocean idles three more rigs amid crude slump

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Offshore driller Transocean has idled three more deep-water rigs, bringing its number of out-of-work units to 14, it said Monday, as the oil slump continued to hammer the drilling market.
(Dado Galdieri/Bloomberg)

Shell exec: U.S. risks losing drilling dollars to Brazil, Canada and Mexico

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The Obama administration’s plan for selling offshore oil and gas leases from 2017 to 2022 could jeopardize the United States’ competitiveness as Brazil, Canada, Mexico and other countries aggressively compete for drilling dollars, a Shell executive told Congress.
frame full of pink slips, layoff notices, etc.

Oil collapse claims 343 more Texas jobs

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Two more companies have told state regulators of plans for layoffs in Texas as the global crude collapse continues to batter the oil and gas industry.
In June, GE tested this prototype 20,000 psi ram blowout preventer at its Houston Technology Center. The 20ksi program also includes new wellheads, connectors, control systems, and riser systems. (GE Oil & Gas)

Feds unveil plan for keeping offshore oil wells in check five years after Gulf spill

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The measure codifies many of the steps that companies have already taken to better keep offshore wells in check, including more rigorous maintenance and testing of the blowout preventers that act as a last line of defense against uncontrolled surges of oil and gas.
The Deepwater Horizon blowout preventer is lifted onto the deck of the Helix Q4000 in the Gulf of Mexico near the coast of Louisiana in September 2010. (AP file photo/Patrick Semansky)

Five years after Gulf disaster, feds ready new well control and blowout preventer mandates

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The Obama administration is poised to lay out new requirements for controlling offshore wells, nearly five years after the Gulf of Mexico oil spill vividly illustrated the damage that can be unleashed when they are not kept in check.
The Maersk Developer drills an exploratory well into Statoil's Martin prospect, about 3,000 feet below the surface in the Gulf of Mexico. Two years ago, Statoil paid $157 million for the right to drill into a single 9-square-mile block at the site and the Norwegian company is now spending about $1.1 million a day to rent the Developer, supply the drilling rig and pay for other contractors. (Jennifer A. Dlouhy / Houston Chronicle)

Statoil makes Gulf of Mexico discovery

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Statoil and its partners have struck oil in the Gulf of Mexico, but more work is needed before the Norwegian oil company can determine the size of the discovery.
(Susana Gonzalez/Bloomberg)

Mexico’s energy regulators are hopeful the crude crash won’t spoil their first oil-rights auction

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Mexican energy regulators on Tuesday expressed confidence that low oil prices won’t suppress activity as the country auctions exploration and production rights for the first time in more than 75 years.
LOOPPipelines2

Louisiana oil port, made for import, rents domestic storage

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The Louisiana Offshore Oil Port recently auctioned 11.3 million barrels of monthly storage space and has scheduled another auction Tuesday, The Advocate reported.
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Moody’s predicts tough year for oil field services firms

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Even if oil prices rebound, oil field services firms still have a tough year ahead as producers squeeze them for deeper discounts, Moody’s Investors Services said in a new analysis.
(Offshore Technology Conference)

OTC panel to talk big ideas on fifth day of programming

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Organizers described the lineup as more like South by Southwest or X-Games than an industry conference.