US and Mexico Reach Agreement on Gulf of Mexico Oil

Secretary Clinton with Mexican Foreign Affairs Minister Patricia Espinoza at Signing of the U.S.-Mexico Transboundary Agreement on Hydrocarbons. Photo: U.S. State Department

*+-LOS CABOS — The United States and Mexico agreed Monday to work together on oil and gas development in the Gulf of Mexico, paving the way to end a long-running moratorium on their maritime border. Under the deal, companies from the United States and Mexico would be encouraged to collaborate on projects over their Gulf […]

Riser Flotation Debris from Deepwater Horizon Puzzles Scientists, Provides New Insight

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*+-Shortly after the Deepwater Horizon disaster, mysterious honeycomb material was found floating in the Gulf of Mexico and along coastal beaches. Using state-of-the-art chemical forensics and a bit of old-fashioned detective work, a research team led by scientists at Woods Hole Oceanographic Institution (WHOI) confirmed that the flotsam were pieces of material used to maintain buoyancy of […]

38 Million Acres Up For Grabs in Latest (and Last) GoM Lease Sale

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*+-NEW ORLEANS — The Obama administration today announced that the Department of the Interior’s Bureau of Ocean Energy Management (BOEM) will hold the consolidated Central Gulf of Mexico Lease Sale 216/222 in New Orleans on June 20, 2012. The sale will include all available unleased areas in the Central Planning Area offshore Louisiana, Mississippi and […]

US Lets ExxonMobil Keep Julia, and her Billion Barrels of Oil

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*+-Federal officials have settled a dispute with Exxon Mobil Corp. (XOM) and Statoil ASA (STO, STL.OS) over one of the largest offshore oil discoveries ever made in the Gulf of Mexico that arose because the companies had failed to come up with a plan to begin producing oil. Under terms of the settlement, filed Friday, Exxon Mobil […]

Return to The Gulf: Oil Companies Scramble for Leases

The Deepwater Horizon

*+-NEW ORLEANS (Dow Jones)–The U.S. oil-and-gas industry took another step out from the shadows of the Deepwater Horizon disaster on Wednesday when federal officials unsealed the first bids for drilling leases in the Gulf of Mexico since the deadly April 2010 accident. Some 21 million acres of federal waters–an area roughly the size of South […]

Conoco Offers Highest Bid In Gulf of Mexico Lease Sale

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*+-  HOUSTON (Dow Jones)–ConocoPhillips’s (COP) $103.2 million offer for the Keathley Canyon Block 95 was the highest bid in the first U.S. Gulf of Mexico lease sale since last year’s Deepwater Horizon oil spill. ConocoPhillips’s bid was higher than offers made for the same block by six other companies, including BP PLC (BP), Royal Dutch […]

Environmental Groups Challenge Gulf of Mexico Lease Sale

The 2010 oil spill in the Gulf of Mexico as seen from space.

*+-WASHINGTON (Dow Jones)–Environmental groups are challenging the first auction of oil-drilling leases to be held in the Gulf of Mexico since the Deepwater Horizon oil spill. In a complaint filed Tuesday in a federal court, the groups said the U.S. government didn’t weigh the lessons of the 2010 oil spill when calculating the risks of […]

Feds Extend 1,400 Offshore Drilling Leases for the Gulf of Mexico

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*+-WASHINGTON (Dow Jones)–U.S. officials have extended oil-drilling leases for the vast majority of companies that say their work in the Gulf of Mexico was disrupted by the Deepwater Horizon oil spill or the temporary drilling ban that followed the spill. The Bureau of Safety and Environmental Enforcement announced Monday that it had approved more than 97% of the lease-extension requests […]

BP is Back: Oil Giant Lands First Drilling Permit For US Gulf Post Spill

BP's Atlantis platform in deepwater Gulf of Mexico.  Photo (c) BP Plc

*+-By Ryan Tracy And Angel Gonzalez, The Wall Street Journal WASHINGTON—BP PLC on Wednesday got permission to drill its first well in the Gulf of Mexico since the company’s massive oil spill there last year. The decision was expected after the U.S. Interior Department approved the company’s broader plan for four exploratory wells in the […]

Hurricane Rina UPDATE: Storm Expected To Visit Yucatan, Cuba, Avoid US

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*+-Hurricane Rina, now churning in the Caribbean north of Honduras, is expected to become a major hurricane as soon as late Tuesday and strike the eastern shores of the Yucatan Peninsula sometime Thursday before making a sharp eastward turn over the weekend toward the western end of Cuba, according to the National Hurricane Center. Rina, […]

Hess Plans Development Of Tubular Bells GOM Project

The Tubular Bells oil and gas field in the Gulf of Mexico was discovered in 2003. It is a deepwater play approximately 135 miles southeast of New Orleans, LA. Hess doubled its interest in the field by acquiring an additional 20 percent share from BP and assuming ownership. Development is underway.

*+-Hess Corp. (NYSE:HES) is planning to proceed with the $2.3 billion development of a deepwater oil and gas project in the U.S. Gulf of Mexico, using a configuration of equipment that will be a first of its kind constructed entirely in the U.S. The project is planned for the Tubular Bells discovery made in 2003 […]

Too Close For Comfort – U.S. To Inspect Cuban Rig

Repsol's Sovex Rig

*+-U.S. officials are trying to make sure the American coastline will be protected as Cuba begins drilling a deep water oil well later this year about 60 miles off the Florida Keys. Administration officials will tell nervous congressmen this week that the U.S. will inspect the China-made drilling rig before the Spanish energy company in […]