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Equinor concludes acquisition of Shell’s stake in Caesar Tonga
Aug. 20, 2019
Source: Equinor

Equinor concludes acquisition of Shell’s stake in Caesar Tonga

Norwegian oil major, Equinor has concluded the acquisition of Shell’s stake in the Caesar Tonga oil field. The acquisition has increased Equinor’s interest in the field to 46%. The operatorship of the field remains with Anadarko Petroleum, with a 33.75% interest, while Chevron owns a 20.25% interest. The deal between Equinor and Shell which was first announced in May 2019, recently received approval from the Bureau of Ocean Energy Management.

Oil prices rise on Wednesday
July 17, 2019
Source: Reuters

Oil prices rise on Wednesday

After facing a downturn in the previous session, oil prices went uphill on Wednesday. WTI showed a substantial increase and was traded at $57.68 per barrel. Brent crudes went up by 0.4% and were traded at $64.60 per barrel. According to analysts, as the operations in the Gulf of Mexico return to normal, halt in price gains will be witnessed.

Oil prices decline as operations normalise in the US Gulf
July 16, 2019

Oil prices decline as operations normalise in the US Gulf

Oil prices declined on Tuesday with the return of more and more production facilities to operation in the U.S. Gulf. Meanwhile, the Chinese data diminished the outlook of crude demand. Brent slipped by 0.2%, to $66.38 a barrel. WTI dropped by 0.2% and was traded at $59.48 a barrel. However, it might take several days for the production to resume fully after a storm leaves the Gulf of Mexico.

Oil prices continue journey uphill
July 12, 2019
Source: Reuters

Oil prices continue journey uphill

Oil prices continued its journey uphill on Friday, supported by production cut due to a tropical storm in the Gulf of Mexico and growing tensions in the Middle East. Brent crude futures jumped by 0.4% to $66.81 per barrel. US WTI crude futures were priced 0.5% higher at $60.51 a barrel. The tropical storm in the Gulf has forced oil majors in the region to cut production by over 1 million bpd.

Oil prices jump as Gulf of Mexico faces tropical storm
July 11, 2019
Source: Reuters

Oil prices jump as Gulf of Mexico faces tropical storm

Oil prices jumped in the international market on Thursday, amidst tropical storm in the Gulf of Mexico and the tensions in the Middle East. Brent crude futures were priced 0.5% higher, at $67.31 a barrel. US WTI crude futures were traded 0.6% higher, at $60.77 a barrel. With a tropical storm expected to hit Gulf of Mexico on Friday, 15 production platforms and four rigs were vacated in the region.

Chevron begins evacuating Gulf of Mexico oil platforms
July 10, 2019
Source: Reuters

Chevron begins evacuating Gulf of Mexico oil platforms

In lieu of the upcoming tropical storm in the Gulf of Mexico, oil supermajpr Chevron Corp began the shutdown and evacuation process at five of its production platforms in the region. The oil firm joined major oil companies in their preparation for the storm. A spokeswoman at Chevron said that they are also removing some non-essential workers at Jack/St. Malo.

Two killed on Shell Auger Tension Leg Platform
July 1, 2019
Source: WWLTV

Two killed on Shell Auger Tension Leg Platform

In an unfortunate event on Sunday morning, two crew members at the Shell Auger Tension Leg Platform were killed during a routine test. A Shell spokesperson informed that the accident happened while crews were performing a mandatory test of the lifeboat launch at the rig in the Gulf of Mexico. Apart from the two killed during the accident, another one was hospitalized with non-life threatening injuries.

W&T strikes a deal with Exxon worth $200mn
June 28, 2019
Source: World Oil

W&T strikes a deal with Exxon worth $200mn

W&T Offshore has entered into a purchase and sale agreement with ExxonMobil. After this, W&T will acquire the assets of the energy major in the eastern region of the Gulf of Mexico (GOM) and other related facilites. This deal is worth $200 million. This acquisition includes working interests in nine shallow water producing fields and related operatorship in the Mobile Bay area. It will help W&T become the largest operator in the area.

C-Innovation receives a contract from BP
June 13, 2019
Source: World Oil

C-Innovation receives a contract from BP

C-Innovation has received a contract to perform riserless light well intervention (RLWI) activities for BP in the Gulf of Mexico. The initial contract includes both mechanical and hydraulic acid stimulations which will be performed by C-I’s flagship Gulf of Mexico assets. Subsea Manager of C-I said, "We look forward to continuing to grow our relationship with BP by offering unique and cost-effective turnkey solutions”.

Oceaneering to engage in first deepwater AUV survey
June 11, 2019
Source: World Oil

Oceaneering to engage in first deepwater AUV survey

Subsea engineering expert, Oceaneering International, has bagged a deepwater AUV survey contract in the Gulf of Mexico, which will also be the first ever deepwater survey by an AUV. The contract pertains to BHP’s Trion development, for which Oceaneering will deploy the DP-2 Ocean Investigator, equipped with its OS-VI AUV and light geotechnical capabilities.

ACE Winches secures two contracts from Subsea 7
May 30, 2019

ACE Winches secures two contracts from Subsea 7

UK-based Subsea 7 has awarded two contracts to ACE Winches for the provision of linear winch pull-in systems to be utilized in two Gulf of Mexico projects. While the first contract pertains to the Shell Vito project, the other contract is for BP’s Mad Dog Phase 2 project. ACE Winches’ linear winching system design lowers the winch deck footprint and deck structure loadings for riser installations.

Shell achieves production at Appomattox ahead of schedule
May 24, 2019
Source: World Oil

Shell achieves production at Appomattox ahead of schedule

Oil supermajor Shell has announced about achieving production at the 175,000 boed Appomattox floating production system in Gulf of Mexico, months ahead of schedule. Shell upstream director, Andy Brown said, "That Appomattox was safely brought online ahead of schedule and far under budget is a testament to our ongoing commitment to drive down costs through efficiency improvements during execution,". Appomattox has seen more than 40% reduction in costs since 2015.

Schlumberger and TGS join hands for seismic project in Gulf of Mexico
May 23, 2019

Schlumberger and TGS join hands for seismic project in Gulf of Mexico

A strategic collaboration has been announced between oilfield service firm Schlumberger and survey service firm TGS. This is to assist multi-client ocean-bottom node projects in the deepwater Gulf of Mexico. Under the agreement, TGS will work with Schlumberger's geophysical services company WesternGeco. CEO of TGS informed that "We are working closely with our clients to plan future phases and are excited by the potential growth in exploration and production activity,”.

Mitsui’s ITC slammed with water pollution charges
April 30, 2019
Source: Reuters

Mitsui’s ITC slammed with water pollution charges

Mitsui’s Intercontinental Terminals Co (ITC) has been alleged with five charges by the Harris County district over the toxic chemical spill in Houston ship channel. The ITC facility in Houston was caught in a fire last month, after which a containment wall rupture leaked toxic chemicals into the Houston ship channel. A statement from the District Attorney read that the water pollution scaled to “criminal levels” during the leak.

Repsol and LLOG Exploration ink Asset Exchange and Joint Participation Agreement
April 30, 2019
Source: BOE Report

Repsol and LLOG Exploration ink Asset Exchange and Joint Participation Agreement

Louisiana-based LLOG Exploration has entered into an asset exchange and joint participation agreement with Repsol E&P USA. The agreement pertains to Gulf of Mexico, and will provide for drilling operations of a delineation well at Repsol’s Leon discovery and also cover for blocks in Keathley Canyon. Additionally, Repsol will purchase stakes in the LLOG-operated discovery Moccasin in Keathley Canyon.

Shell Offshore informs about its recent discovery
April 26, 2019
Source: Reuters

Shell Offshore informs about its recent discovery

Shell's unit Shell Offshore Inc informed on Wednesday that it has made a discovery at Blacktip in the deep water U.S. Gulf of Mexico. The Upstream Director of the energy giant Shell commented, "Blacktip is Shell’s second material discovery in the Perdido Corridor and is part of a continuing exploration strategy to add competitive deep water options to extend our heartlands".

Rowan secures contract extension from ExxonMobil
Feb. 15, 2019

Rowan secures contract extension from ExxonMobil

Oil supermajor ExxonMobil has awarded a contract extension to Rowan’s Relentless Drillship for further operations. In a company statement, Rowan Companies plc announced that its R-Class ultra-deepwater drillship, Rowan Relentless will continue its operations for another 180 days in the US Gulf of Mexico. The drillship has been under contract by ExxonMobil from September 2018.

Otto Energy discovers hydrocarbons in Lightning prospect
Feb. 4, 2019
Source: Small Caps

Otto Energy discovers hydrocarbons in Lightning prospect

Australia-based Otto Energy has discovered oil and gas in the Lightning prospect on the US Gulf Coast. In an announcement, Otto stated that the Green-1 well was drilled to its final total depth of 4,638 metres by its partner, Hilcorp Energy. Otto Energy entered a farm-in agreement with Hilcorp, last year. The Green-1 Well is second in line of a planned eight-well exploration program.

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