U.S. Offshore ///

Category 3 hurricane Laura targets U.S. energy infrastructure

Laura’s winds will likely peak at 115 miles (185 kilometers) per hour as it comes ashore early Thursday, the National Hurricane Center said. Laura has disrupted offshore oil and natural gas production, shuttered refineries and export terminals and prompted mandatory evacuations.

Oil prices climb as two hurricanes shutter U.S. offshore production

Almost 58% of crude output, or more than 1 million barrels a day, in the Gulf of Mexico was closed as of midday Sunday. The storms Marco and Laura -- the latter of which is forecast to become a hurricane -- are coming from different directions and have the potential to cause billions of dollars in damage.

High costs, low oil prices increasing financial risks for deepwater drillers

Firms including Transocean, Seadrill and Pacific Drilling are exploring strategic options as they seek to stave off default, leaving more than $30 billion of debt at risk. The industry’s turmoil has sparked the biggest wave of restructurings since 2017, when the effects of the last oil price downturn reverberated through the industry.

A stronger Gulf of Mexico means a stronger America

Erik Milito, NOIA

Calls to ban offshore oil and natural gas lease sales, or permitting, would devastate America’s economic and energy future.

NETL uses machine learning to prevent and predict oil spills

Jared Ciferno, Kelly Rose, NETL

NETL’s ORM suite comprises tools that can be used individually, or coupled together, to provide a full scope of data to evaluate, explore and ultimately prevent different spill scenarios.

U.S. offshore energy industry releases economic impact study of offshore wind auctions

The United States has an opportunity to accelerate offshore wind energy growth, and benefit from 28 new gigawatts of clean energy and $1.7 billion in U.S. Treasury revenue by 2022, a new study released today from research group Wood Mackenzie finds.

U.S. crude production dropped a record 2 MMbpd in May

Production of crude oil decreased in the United States in May 2020 by 1.99 million barrels per day, the largest monthly decrease since at least January 1980, according to the U.S. Energy Information Administration’s (EIA) Monthly Crude Oil and Natural Gas Production Report.

With oil's supermajors in distress, can smaller independents step up and lead a recovery?

A disconnect between drilling activity and supermajors' earnings may reveal a shift in industry leadership, as evidence that the oil and gas industry is reaching a bottom emerges.

As oil demand sentiments diverge on a national and an operator level, are production plans evolving to keep pace?

From OPEC stalwarts down to individual producing companies, oil price and demand projections are dividing into two separate camps. World Oil's editors review some of these key differences, and what they mean for crude production plans.

BSEE shares results from 28 unannounced spill response exercises in U.S. waters

BSEE is publishing its inaugural report that summarizes the key lessons learned from 2018 and 2019 government initiated unannounced exercises.

Zupt completes Gulf of Mexico remote metrology survey

Houston-based Zupt LLC has been completing metrologies remotely, without offshore survey personnel, since 2017 and is believed to be only company with the end-to-end ability to complete spool/jumper metrologies in this way.

U.S. oil gaining appeal in Asia as OPEC+ suppliers limit output

Refiners in the top crude-importing region have been forced to accept big reductions in their regular contracted volumes from producers including Saudi Arabia and Iraq in the past couple of months. They’ve also been taken aback by sharp swings in official selling prices.

Underperforming offshore wells rack up over $100 billion in abandonment liabilities worldwide

Aging offshore oil wells that once brought market prominence to Europe, the U.S. Gulf and Brazil are increasingly money losers that companies want shut down amid low oil prices and a struggling global economy. But the effort won’t be cheap.

EIA data suggests official U.S. oil stockpile figures are too high

Various government data sets including stockpiles, production, imports and exports are signaling that current official figures on at least some supplies are excessive. While it’s unclear where exactly the discrepancy lies, the difference could signal a more bullish outlook for crude prices.

Gulf of Mexico operators can expect an active 2020 hurricane season

Federal researchers are now weighing in on the hurricane season ahead, forecasting as many as 19 named storms for the year, at least six of which are likely to become hurricanes.

More oil companies qualify for Federal Reserve loans after rules change

The Federal Reserve revamped its Main Street Lending Program in ways that will allow battered oil companies to qualify for the aid after industry allies lobbied the Trump administration for changes.

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.