U.S. Offshore
News
October 06, 2023
The study, conducted by EIAP, finds that recently proposed restrictions on oil and natural gas vessels operating in the Gulf of Mexico would have a major impact on jobs, industry investment, government revenue and oil and natural gas production in the region, to a nearly one-quarter decline – which is more than 500,000 boed – in energy production in the Gulf of Mexico by 2040, even as demand continues to rise.
News
October 05, 2023
Lease Sale 261 will offer approximately 13,618 blocks on 72.7 million acres on the U.S. Outer Continental Shelf in the Western, Central, and Eastern Planning Areas in the Gulf of Mexico.
News
October 04, 2023
With as many as 10 deepwater rigs forecast to go back to work throughout the oil industry by the end of next year, Noble’s Chief Executive Officer Robert Eifler said he sees Brazil and West Africa leading the world in growth as activity in the U.S. Gulf holds flat.
Article
September 2023
OPEC’s 1-MMbopd production cut, coupled with increased global demand, pushed crude prices to a nine-month high in September. Yet, U.S. operators have shown restraint, and according to World Oil’s mid-year forecast, this trend will continue, as activity is projected to decline slightly during second-half 2023.
News
September 29, 2023
The legislation guarantees access to oil and gas resources both on and offshore and ensures that the rights to domestic resource development are kept from being interrupted or administratively slowed down.
News
September 29, 2023
"As a result of this administration’s actions, energy production will move elsewhere, costing the United States jobs and harming our energy security," said Christopher Guith, Senior Vice President of the U.S. Chamber’s Global Energy Institute.
News
September 29, 2023
“At a time when inflation runs rampant across the country, the Biden administration is choosing failed energy policies that are adding to the pain Americans are feeling at the pump," American Petroleum Institute CEO Mike Sommers said.
News
September 29, 2023
The leasing program charts sales of Gulf of Mexico oil and gas leases in 2025, 2027 and 2029 — the fewest-ever since the government started planning the auctions in five-year blocks.
News
Biden plans to sell offshore drilling rights in Gulf of Mexico to ensure steady U.S. oil development
September 28, 2023
The Interior Department ruled out adopting an offshore oil leasing plan that completely blocked auctions through late 2028, according to people familiar with the deliberations who declined to be named because the measure is not yet public.
News
September 26, 2023
The three-judge panel ordered the auction take place no later than Nov. 8 but otherwise left in place a lower court order forcing the Interior Department to sell more territory for potential oil development.
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.
