While Noble Energy (NBL) made headlines as the first operator to receive a deep-water drilling permit in the US Gulf since the Deepwater Horizon disaster, the Houston explorer isn’t the only concern with a stake in the well. BP is the project’s largest stakeholder, with a 46.5% interest, versus Noble’s 23.25% share. Owning 20.25% of the well is Red Willow Production, the Southern Ute’s oil and gas company, which the tribe started 19 years ago to buy gas wells on its reservation and expanded into an offshore explorer in 2003. An investment group holds the remaining 10% interest.
(c) 2011 Dow Jones & Company, Inc.
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President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home.
One of the world's top offshore wind developers, Germany's RWE, has stopped work on its U.S. projects for now in light of recent moves against the industry by the Trump administration, its CEO said in a text published ahead of the firm's annual meeting.
President Donald Trump on Thursday signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy.
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