BP Uses New Technology to Unlock 1 Billion BOE at Thunder Horse Field

By Ron Bousso LONDON, Jan 8 (Reuters) - BP said it has discovered two new oilfields in the Gulf of Mexico and has identified an additional billion barrels of oil at an existing field thanks to new seismic technology. The British company, which has only recently turned a corner following the deadly 2010 Deepwater Horizon spill, also on Tuesday announced plans to expand … [Read more...]

BSEE Director: Deepwater Gulf of Mexico Critical to U.S. Energy Dominance

Oil and gas production from deepwater projects in the U.S. Gulf of Mexico is critical to the Trump Administration's goal of energy dominance, according to Bureau of Safety and Environmental Enforcement Director Scott Angelle. During his speech at a deepwater operations conference in Texas this week, Angelle, stressed the substantial contribution from deepwater and how future … [Read more...]

As Oil Prices Rise, Global Majors Eye Mexico’s Deep Waters

By Adam Williams (Bloomberg) -- As the price of oil rises, an international rush is on for Mexico’s untapped deep-water riches. The who’s who of the oil world -- led by Exxon Mobil Corp and Royal Dutch Shell Plc, the world’s two biggest drillers by market value -- are lining up to bid in the country’s Jan. 31 deep-water auction. And the interest is international in scope, … [Read more...]

Crude Goes on Wild Ride as Stockpile Surge Outweighs Platform Shutdowns

By Jessica Summers (Bloomberg) -- Crude went on a roller-coaster ride Wednesday as platform closures in the Gulf of Mexico led futures to spike, while the stubborn increase in U.S. supplies pushed prices down. Oil traded 0.7 percent lower in New York after rising as much as 1.3 percent. Royal Dutch Shell Plc shut its Enchilada-Salsa and Auger platforms, and Anadarko … [Read more...]