(Dow Jones) US offshore regulators are issuing deepwater drilling permits under new regulations like it was 2009–before the disastrous oil spill in the US Gulf of Mexico, fostering optimism among oil companies, say analysts with Simmons & Co.
Annualized rate for new well permits seen in the third quarter of 2011 is on par with the rate seen in 2009, and exceeds that of 2008; if sustained, that could mean three new rigs per quarter in the region over the next couple of quarters, Simmons analysts say.
“That being said, the present outlook for the deepwater GOM is unquestionably better than most would have envisioned 6 or 12 months ago,” the Simmons note says.
(c) 2011 Dow Jones & Company, Inc
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W&T Offshore, an independent driller operating in the U.S. Gulf of Mexico, has asked a federal judge to block insurance companies' demands for $250 million in additional collateral for taking apart old oil infrastructure.
Europe is starting to find the limit of a decades-long boom in offshore wind. It can be seen most acutely in the places that have been quickest to build capacity. Countries like Denmark and Sweden are beginning to hit a wall as power prices and incentives drop too low to make building projects worth it. The latest example is a Danish government auction for offshore wind that failed to attract any bids.
The Bureau of Ocean Energy Management (BOEM) has released its Draft Programmatic Environmental Impact Statement (EIS) for Gulf of Mexico oil and gas lease sales. The announcement comes on the...
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