Friday, December 27, 2024

BP Identifies 1.4 Billion Barrels of Oil in Gulf

Atlantis Phase 3 FID announced BP (stock ticker: BP) has big plans for the Gulf of Mexico, as the company announced several new developments in the GOM today. BP has approved Phase 3 development at the Atlantis field, authorizing a new subsea production system that will be tied into the existing platform. The company will drill eight new wells targeting

International Offshore Drilling Surged in December

28 offshore rigs come online, 23% of activity International drilling activity rose sharply in December, reaching levels not seen since the beginning of 2016, according to Baker Hughes. A net 34 rigs began drilling internationally last month, meaning there are 1,025 active rigs. This is the largest international rig count since January 2016, when activity was still falling in the