Deepwater – Oil & Gas 360

Transocean secures $195 million deepwater drilling contract in U.S. Gulf of Mexico

April 2, 2024

World Oil (WO) – Transocean Ltd. announced a 365-day contract extension for the Deepwater Asgard with an independent operator in the U.S. Gulf of Mexico. The program is expected to commence in June 2024 in direct continuation of the rig’s current program and includes additional services. The total contract value of approximately $195 million includes a $10.9 million lump sum payment, which

Caliber Midstream Makes North Dakota Acquisition

August 6, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Caliber Midstream acquires North Dakota assets from American Midstream Partners Caliber Midstream Holdings L.P., headquartered in Denver, Colorado, has acquired crude oil gathering and transportation assets in McKenzie county, North Dakota from American Midstream Partners L.P. The acquired assets include a FERC-regulated system comprised of 47 miles worth of pipeline and

Shell Invests in New Deep-Water Gulf of Mexico Project, Sells Assets to Equinor and Noreco

August 1, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Shell Offshore Inc. makes final investment decision for PowerNap deep-water project in U.S. Gulf Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc (stock ticker: RDS-A, RDS-B), has reached a final investment decision (FID) for the PowerNap deep-water project in the US Gulf of Mexico, electing to move forward with

WoodMac: Onshore and Offshore Oil Now Have More in Common

July 2, 2019

From The Houston Chronicle After much of the energy sector abandoned deepwater drilling to focus on quicker and cheaper shale oil, the offshore and onshore industries suddenly have much more in common than they once did. The two sectors are meeting in the middle as shale oil becomes larger-scale and switches to a repeatable manufacturing mode, while the offshore industry

Shell Starts Production at Appomattox

May 23, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Deeper water targets available with new Gulf of Mexico platform Royal Dutch Shell plc (stock ticker: RDS.A), through its subsidiary Shell Offshore Inc., brought its Appomattox floating production system online Thursday, in what is now the first commercial discovery operational in the Gulf of Mexico Norphlet formation. The deep-water oil

Brazil’s Deepwater Lula North is Now Producing

February 1, 2019

Shell And Partners Start Deep-Water Production At Lula North In Brazil

Slow Deepwater Rebound Threatened by Rising Rig Costs, Falling Oil Prices

November 30, 2018

From Houston Chronicle The slow deepwater recovery in the Gulf of Mexico and the rest of the world is now threatened by falling oil prices and the projected cost rise of drilling rigs and other services. A new report Tuesday by research firm Wood Mackenzie highlights how the offshore sector has returned to viability through costs reductions and greater

Total Sees Cash Flow Output Boost From Deep Water Projects

September 25, 2018

From Reuters Oil and gas major Total, said on Tuesday it expected deepwater oil and gas operations to make a strong contribution to its output and cash flow thanks to major developments in the West Africa’s Gulf of Guinea region, Brazil and U.S. Gulf area. Production from deepwater projects is expected to reach 500,000 barrels of oil equivalent per day

Two Ocean Rig Drillships First with ABS Managed Pressure Drilling-Ready Notation

May 1, 2018

Technology improves drilling complex deepwater wells From MarineLog MAY 1, 2018 — ABS reports that it has awarded the world’s first Managed Pressure Drilling (MPD) –Ready Notation to Ocean Rig for the ABS-classed Corcovado and Mykonos deep water drillships. The ABS MPD-Ready notation demonstrates drilling units have the necessary provisions in place to integrate equipment needed for Managed Pressure Drilling

Mexico Successfully Completes its First Deepwater GOM Auction

December 6, 2016

BHP Billiton wins Trion farmout Mexico’s deepwater Gulf of Mexico oil and gas auction, Round 1.4, resulted in eight of the 10 deepwater blocks in the Gulf being awarded to bidders outside of Mexico—a first for a country that has been determined to successfully draw outside companies to help overhaul its energy sector. Mexico’s National Hydrocarbon’s Commission (CNH) said that

Surety Industry Weighs In on New OCS Supplemental Bonding Requirements

September 28, 2016

Examining new BOEM supplemental bonding requirements for OCS decommissioning obligations: Part 4 In context of the Bureau of Ocean Energy Management’s new NTL 2016-N01, the recently in force Notice to Lessees and Operators in the outer continental shelf (OCS) laying out strict new financial demands of operators and leaseholders to cover decommissioning liability on the OCS, Oil & Gas 360® took

Experts Predict Trouble Ahead for Gulf of Mexico Oil & Gas Operators

September 20, 2016

New supplemental collateral requirements could severely damage independent Gulf of Mexico drillers, producers – Part 2 On Sept. 12, 2016, the federal government initiated big changes to its bonding requirements for the financial liability for decommissioning oil and gas assets on the U.S. outer continental shelf (OCS). The new requirements are game-changing, according to some experts who predict that the

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