U.S. Offshore ///

Trump administration opposed to royalty relief for oil companies

President Donald Trump has told aides he doesn’t support a broad plan to temporarily stop charging energy companies royalties for oil and gas produced on federal lands and waters, according to two people familiar with the matter.

Gulf of Mexico operators move proactively to keep oil flowing during pandemic

In response to the coronavirus outbreak, offshore operators have stepped up screening and cleaning, lengthened job assignments and subjected workers to isolation periods. Some officials have even gamed out hypothetical scenarios that include shutting down operations if the pandemic spreads.

Talos reduces costs, expects positive free cash flow in 2020

Talos Energy announced updated full year 2020 financial guidance, inclusive of $170.0 million of reductions in capital, operating and G&A expenses.

Aker lands 20-year umbilicals master order with Chevron

Aker Solutions has entered a master agreement to provide umbilicals for Chevron-operated oil and gas fields in the US Gulf of Mexico.

Weatherford completes novel cased-hole sidetrack in ultra-deep Gulf of Mexico waters

Weatherford announced a success in an ultra-deepwater Gulf of Mexico operation that saved a major international oil company 14 rig days valued at approximately $14 million.

Tracerco secures first baseline subsea inspection project for Gulf of Mexico pipelay development

Tracerco has been awarded a deep-water subsea inspection project to assess the integrity of a new pipelay in the Gulf of Mexico.

BP can cut spending by 20% this year, CFO says

BP can slash its spending by 20% this year as the oil market goes into freefall, with some U.S. operations likely to get less investment.

Jones Act waiver floated as a stimulus for U.S. oil companies

U.S. oil companies battered by the crude price war between Saudi Arabia and Russia are encouraging the Trump administration to waive a law that mandates only American vessels can be used to transport goods among U.S. ports.

U.S. oil output to fall next year, for the first time since 2016

The world’s biggest oil producer will see a drop in output next year as a result of the dramatic collapse in prices that’s already forcing drillers to cut back on capital spending.

Betting on a bailout, investors rush into U.S. energy funds

Exchange-traded fund investors are piling into the U.S. oil and gas industry, despite the recent collapse in prices, partly on bets that the government may bail out producers as part of a stimulus package.

Are America’s days as a net oil exporter numbered?

America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers.

Wood to deliver engineering design for Chevron's Anchor development

Wood is delivering a multi-million-dollar engineering design project for Chevron’s Anchor deepwater development in the Gulf of Mexico.

Innovative strategy increases profitability of ultra-deepwater fields

Roy Shilling, Chuck White, Vamsee Achanta, Paul Hyatt, Howard Day, Frontier Deepwater Appraisal Solutions LLC

To solve complex issues related to developing deepwater reserves in the GOM, a common-sense approach utilizing appropriate technology enables operators to profitably capture critical dynamic reservoir data and increase ultimate recovery.

U.S. crude oil and natural gas production increased in 2018, with 10% fewer wells

In 2018, while production was increasing, the total number of wells producing crude oil and natural gas in the United States fell to 982,000, down from a peak of 1,035,000 wells in 2014. This increase in production, despite the decline in the number of wells, reflects advances in technology and drilling techniques.

EIA says growth of U.S. crude production will slow through 2021

EIA forecasts production will continue to grow as rig efficiency and well-level productivity rise, offsetting the decline in the number of rigs until drilling activity accelerates in 2021.

EIA expects U.S. net natural gas exports to almost double by 2021

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.

Worley lands FEED contract for Total’s 20,000 psi North Platte field development

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.

Drilling advances

Jim Redden, Contributing Editor

Into the brink

What's new in exploration

William (Bill) Head, Contributing Editor

Let’s talk mud

America is awash with natural gas, and it’s about to get worse

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.