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.
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.”
May 02, 2023
The contract scope includes the installation of three infield subsea pipeline systems, as well as the design and fabrication of subsea structures.
Caveats and short-term affection
April 13, 2023
With a gross production capacity of up to 140,000 bopd, Argos is bp’s fifth platform in the Gulf of Mexico and the first new bp-operated production facility in the region since 2008.
April 10, 2023
Initial steps to resume full operations will involve filling the San Pedro Bay pipeline with production, a process which began over the past weekend and is expected to take approximately two weeks to complete.
March 29, 2023
The 73 million acre sale — one of the nation’s largest ever — being held by the Interior Department on Wednesday was one of several required under the Democrats’ climate law as a concession to Senator Joe Manchin to secure the bill’s passage in the Senate.
March 16, 2023
The investment at Dover underscores Shell's long-term commitment to the U.S. Gulf of Mexico, where production has among the lowest greenhouse gas intensity in the world for producing oil.
March 14, 2023
This is the fourth acquisition for the company since 2014, and according to Eric Danos, “We are actively seeking more acquisitions in the energy sector that increase our ability to service our customers and provide career development opportunities for our employees.”
Proved reserves of natural gas reported by operators established a new record in the United States in 2021, while proved U.S. reserves of oil increased but did not quite return to pre-pandemic levels.
Despite rising interest rates and fear of an economic recession, WTI surged to a 15-year high of $114.84/bbl in June 2022, as the war in Ukraine continued to restrict Russian supply and fueled global unrest.
February 20, 2023
Williams will provide natural gas gathering services to Chevron’s 26,000-acre Haynesville dedication. Additionally, Williams has agreed to use existing infrastructure to serve increased natural gas production from the Blind Faith platform in the Gulf of Mexico.
February 16, 2023
With an estimated peak production of 100,000 boed, Vito is the company’s first deepwater platform in the GoM to employ a simplified, cost-efficient host design.
Biden administration to sell new oil leases while nurturing offshore wind and carbon capture opportunities
February 13, 2023
Liz Klein, the new Director of the Bureau of Ocean Energy Management, takes over at a critical time as her agency makes decisions about where to install ocean wind farms, how to safely store carbon dioxide under the sea floor and the future of oil drilling in the Gulf of Mexico.
Koil Energy Solutions to provide subsea equipment for Shenandoah development offshore Gulf of Mexico
January 19, 2023
The multi-million-dollar project is for the provision of 70+ Multi Quick Connect (MQC) plates. The components are critical pieces of subsea infrastructure that enable the transfer of different fluids between subsea systems.
January 04, 2023
Expected combined gross production rates are in-line with pre-drill estimates of approximately 15-20 Mboed. The two wells will produce through a shared riser system at the Ram Powell facility.
December 30, 2022
As the year comes to an end, World Oil looks back on all of our breaking news items. Record-breaking crude exports and billion-dollar oil projects are only some of the incredible feats the industry accomplished. Read our final collection of top news stories of 2022 here.
Energy companies create carbon capture partnership to develop massive CO2 storage project in Gulf of Mexico
December 20, 2022
Carbon-Zero US, Cox Operating, Crescent Midstream and Repsol announced a partnership to develop one of the Gulf Coast's largest offshore hubs for the permanent storage of carbon dioxide.
December 13, 2022
Arena Energy announced its acquisition of seven blocks and twelve platforms in the Gulf of Mexico from GOM Shelf. The acquisition includes net daily production of approximately 2,000 barrels of oil equivalent in fields with historically low decline rates.
December 12, 2022
Offshore wind has picked up momentum in recent years. After more than a decade of stops, starts and high-profile failures, construction of a massive new U.S. power source meant to displace planet-warming fossil fuels has finally begun at a turbulent time for the industry.
The recovery of U.S. upstream activity is being slowed by high costs for equipment and services, personnel issues, and supply chain shortages, including spare parts.