U.S. Offshore ///
The U.S. Energy Information Administration forecasts that U.S. natural gas exports will exceed natural gas imports by an average 7.3 Bcfd in 2020 (2.0 Bcfd higher than in 2019) and 8.9 Bcfd in 2021.
The North Platte Development forms part of Total’s reentry, as an operator, into Gulf of Mexico operations with oil production expected to average 75,000 bpd at plateau level.
Jim Redden, Contributing Editor
Into the brink
William (Bill) Head, Contributing Editor
Let’s talk mud
Prices briefly dipped below $2 /MMbtu on Friday for the first time since 2016, yet the industry is powerless to stop a wave of additional gas hitting the market as a byproduct of rising shale oil output.
Magma Global has been selected by C-Innovation to supply m-pipe thermoplastic composite subsea jumpers for flowline intervention in the Gulf of Mexico. The 4-inch diameter 10ksi m-pipes are expected to be deployed in the next few months.
Talos president and CEO Timothy S. Duncan commented, "The acquisition of these assets significantly strengthens Talos's position as a basin-leading independent E&P company, providing increased scale and free cash flow, greater operational diversity and broader optionality in future growth.”
The 20,000-psi field development plan is based on eight subsea wells and two subsea drilling bases connected via two production loops to a newbuild, lightweight floating production unit.
Chevron has sanctioned the Anchor project in the U.S. Gulf of Mexico, marking the industry’s first deepwater high-pressure development to achieve a final investment decision.
The new imaging project will process data from the prolific Mississippi Canyon, Viosca Knoll and De Soto Canyon areas using the latest imaging technologies to provide a significant uplift in data quality.
The U.S. Energy Information Administration reported that total U.S. energy-related carbon dioxide (CO₂) emissions in 2018 rose to 5.27 billion metric tons, 2.7% more than its 2017 level.
A global glut of natural gas has gotten so massive that U.S. exporters could soon face their worst-case scenario: Halting shipments to get supply and demand back in balance.
The U.S. Energy Information Administration revises the U.S. crude oil production forecast it publishes in each Short-Term Energy Outlook based mainly on two factors: updates to EIA’s published historical data and EIA’s crude oil price forecast.
A report by analysts at Sanford C. Bernstein & Co. sees projects in the Gulf of Mexico and off of South America significantly boosting output next year. After that, though, the odds drop for any further growth gains, the report found.
The new facilities will provide purpose-built space to support Gator’s bottom hole assembly tool rental, repair and manufacturing capabilities.
The U.S. has forfeited some $18 billion tied to oil and gas production in the Gulf of Mexico since 2000 because of a decades-old law that gave energy companies a break on paying royalties when drilling in deep waters, federal investigators concluded Thursday.
Based on EIA’s latest Short-Term Energy Outlook’s expected production levels at new and existing fields, annual crude oil production in the GOM will increase to an average of 1.9 MMbpd in 2019 and 2.0 MMbpd in 2020.
The project required data collection over multiple deepwater lease blocks in the greater Perdido and Mars development areas to support clearance of potential environmental, engineering, geological and archaeological hazards ahead of planned drilling activities.
Universal Subsea's patent-pending Defender subsea isolation cap was successfully installed to the Bulleit subsea well, operated by Talos in the Gulf of Mexico at a water depth of 1,300 feet.
Lease Sale 254, scheduled to be livestreamed from New Orleans, will be the sixth offshore sale under the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program.