Tag: offshore

OTC panel to talk big ideas on fifth day of programming

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

Cyprus draws Norway parallel after latest gas quest failure

President Nicos Anastasiades told reporters Thursday he’s not disheartened by the failure of an Italian-South Korean consortium to find commercially viable amounts of gas during exploratory drilling in an area off Cyprus’ southern coast.  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 »

BG Group announces production from North Sea field

The Knarr oil field was discovered in 2008, and BG Group estimaes it has 80 million barrels of oil equivalent in gross recoverable reserves.  More »

North Sea oil industry under siege seeks U.K. tax cuts

The picture for North Sea today is grim. Production is less than half its peak in the 1990s, when the U.K. was a leading oil and gas exporter, giving the government billions in taxes to spend.  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 »

East Coast Democrats protest Atlantic oil drilling

Sixty-five lawmakers told the Obama administration to reconsider a plan to sell oil and gas drilling leases along the East Coast.  More »

Feds weighing Shell bid for more time in Arctic

Interior Secretary Sally Jewell said the Obama administration will decide soon whether to yield to Shell’s request for an extension of its Arctic drilling leases. Statoil and ConocoPhillips have made parallel requests for leases that will begin expiring in 2019.  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 »

Noble Energy CEO: Israel gas investments stalled this year by impasse with government

In a quarterly conference call with investors on Thursday, Noble CEO David Stover called the antitrust decision an example of the uncertain regulatory environment in Israel and said the two parties would have to come to an agreement on the matter before Noble could invest significantly in Israel’s energy sector.  More »

Mexico puts some deep-water oil on hold amid crude’s slide

Petroleos Mexicanos director Emilio Lozoya says deep-water projects that have not already begun will be delayed.  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 »

Helix earnings down 78 percent

Offshore services company Helix Energy Solutions Group’s earnings fell 78 percent in the fourth quarter, the company reported Monday, largely the result of more of its vessels sitting unused.  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 »

Video: Sikorsky’s new helicopter takes flight

Sikorsky doesn’t expect the drop in crude oil prices to hurt its business, even though the oil industry is a big customer.  More »
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