U.S. Offshore
News
September 22, 2023
“We are pleased that the court has hit the brakes on the Biden Administration’s ill-conceived effort to restrict American development of reliable, lower-carbon energy in the Gulf of Mexico," said API's Senior Vice President and General Counsel Ryan Meyers.
News
September 22, 2023
The Interior Department’s Bureau of Ocean Energy Management “failed to justify its pivot,” U.S. District Judge James Cain wrote in a 30-page ruling late Thursday.
News
September 21, 2023
The assets include 30,646 gross acres and are currently producing approximately 2,400 boed, of which 42% is oil. Estimated proved reserves for the eight properties totaled 3.2 MMboe (49% oil), of which 100% are proved developed.
News
September 20, 2023
The leases are located on the eastern North Slope, with multiple prospects in the late Cretaceous Brookian and Schrader Bluff formations.
News
September 19, 2023
Arena was the successful high bidder on seven leases in Lease Sale 259 held on held May 29, 2023. These leases—totaling 34,965 acres—range in water depth from 62 to 217 ft in the Gulf of Mexico, off the coasts of Texas and Louisiana in the Eugene Island, Main Pass, and Matagorda Island areas.
News
September 19, 2023
The U.S. Energy Information Administration (EIA) expects U.S. crude oil production to surpass 12.9 MMbpd for the first time in late 2023 and to exceed 13 MMbpd in early 2024.
News
September 13, 2023
Shenzi North is a two-well subsea tieback that takes advantage of the existing Shenzi infrastructure to increase the production capacity of the asset. The project, on which a final investment decision (FID) was taken in July 2021, achieved production ahead of targeted first oil in 2024.
News
September 10, 2023
The number of operating oil rigs is about 17% lower than at the start of 2023, meaning it would take several weeks of steady increases to make back this year’s reductions.
News
August 30, 2023
“Congress’ directive is clear in the Inflation Reduction Act that the Department of the Interior must hold offshore Lease Sale 261 in the Gulf of Mexico in order to help meet the energy needs of the American people.," Senior Vice President and General Counsel Ryan Meyers said.
News
August 29, 2023
“According to BOEM, a single offshore wind project could support approximately 4,470 jobs and $445 million in GDP during construction and an ongoing 150 jobs and $14 million annually from operation and maintenance labor, materials, and services," National Ocean Industries Association (NOIA) President Erik Milito said.
News
August 29, 2023
Administration sources say the move advances the President’s commitment to deploy 30 GW of offshore wind energy by 2030.
News
August 25, 2023
The challenge follows BOEM’s announcement to hold the final offshore lease sale mandated by the Inflation Reduction Act, but with significantly reduced acreage and severe restrictions on oil and natural gas vessel traffic.
News
August 23, 2023
“While the Department of the Interior announced a much-needed offshore lease sale today, the Biden administration continues to throw up roadblock after roadblock to American energy production, prioritizing their campaign promise to stop American oil and natural gas development in federal waters over their duty to meet Americans’ energy needs," writes API's Holly Hopkins.
News
August 23, 2023
The National Oceanic and Atmospheric Administration has increased its prediction for the 2023 Atlantic hurricane season from a near-normal level to an above-normal level of activity, partially due to record high sea surface temperatures. EIR’s report analyzes the potential for production shut-ins, loss of assets and oil-price upside under potential storm strength scenarios.
News
August 22, 2023
A rare heat advisory from the Interior Department’s Bureau of Safety and Environmental Enforcement warned offshore oil companies on Tuesday to take extra precautions in the Gulf, including periodic breaks. In a few recent instances, affected workers have been taken to shore for further evaluation, the alert said.
News
July 20, 2023
Danos has been awarded a contract allowing the energy services provider to perform work across bp’s five assets in the Gulf of Mexico. The three-year agreement includes planning and estimating, fabrication, installation and maintenance repair.
News
July 13, 2023
The average GHG intensity of production in the U.S. Gulf of Mexico was found to be 7 kilograms of carbon dioxide equivalent per barrel of oil equivalent (kgCO2e/boe) in 2022. However, about 78% of the total production was found to be beneath that average.
News
July 11, 2023
The Trendsetter STIM offers a 15,000psi rated subsea safety system designed to provide hydraulic well access for both vertical and horizontal tree types in up to 10,000’ water depth
News
June 08, 2023
In an area known for increasingly challenging subsurface imaging, application of full-waveform inversion (FWI) utilizing ultra-long offsets will provide a dataset that represents a step-change in the conceivable geological and geophysical interpretation.
News
May 24, 2023
This purchase represents our first upstream oil and gas investment, and we will continue to be active in pursuing additional attractive investments that meet our return and operational criteria," said Catherine Flax, President of Private Markets at XMC Strategies.
News
May 22, 2023
George Wilson, riserless light well intervention project manager, C-I, said, “Riserless interventions on vessels offer both time and cost advantages over riser interventions. C-I’s program offers the added benefit of dedicated dock space with advanced fluid tracking for faster between-well maintenance.”
