Monday, September 30, 2024
BOEM Oil & Gas 360

Did a White House Appointee just Kill Deepwater Drilling in the Gulf of Mexico?

U.S. Offshore Drilling Changes Drastically after Sept. 12, 2016 – Part 1 In July an agency under the executive branch of the U.S. government delivered what might be a killshot for a portion of the leaseholders and operators working to extract oil and natural gas from the U.S. outer continental shelf (OCS). It looks innocuous enough. A memo entitled “Requiring Additional

Enbridge Becomes Largest North American Energy Infrastructure Company with $28 Billion Spectra Energy Acquisition

Enbridge and Spectra will combine to create company with US$127 billion enterprise value Pipeline companies Enbridge Inc. (ticker: ENB) and Spectra Energy Corp (ticker: SE) announced Tuesday that they have entered into a definitive merger agreement under which the two companies will combine in a stock-for-stock transaction which values Spectra common stock at approximately US$28 billion, based on Enbridge’s common

OPEC Crude Imports by U.S. Consistently Decrease, while Non-OPEC Imports Increase

Total U.S. Crude Oil Imports Decline 4% from 2010 According to the EIA, U.S. imports of crude oil from OPEC nations have been consistently decreasing since 2013. On the other hand, non-OPEC imports have been consistently increasing, driven primarily by Canadian flows. Total imports per day in 2016 currently stand roughly even with 2010 levels at 7,151 Mboe/d, a 4%

Yates Petroleum Acquired by EOG for $2.5 Billion

Acquisition of Yates increases number of EOG drilling locations with 30%+ IRRs by 40% EOG Resources (ticker: EOG) announced today that it will acquire Yates Petroleum Corporation, a privately-owned E&P headquartered in Artesia, New Mexico, for total consideration of approximately $2.5 billion. Under the terms of the deal, EOG will issue 26.06 million shares of common stock valued at $2.3

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