Oil Majors Offload Gulf of Mexico Fields to Hunt Bigger Finds

By Kevin Crowley and David Wethe (Bloomberg) -- Big Oil is giving up looking for singles and doubles in the Gulf of Mexico: Now it’s home runs or bust. Exxon Mobil Corp. and Royal Dutch Shell Plc, the world’s two biggest oil companies, have put a slew of assets in the Gulf up for sale in recent weeks, while Brazil’s state-run Petrobras this week sold the bulk of its … [Read more...]

U.S. Oil Firms Restoring Operations in Storm-Battered Gulf of Mexico

HOUSTON, Oct 11 (Reuters) - Major oil producers and drillers, including Chevron Corp and BP Plc, on Thursday began returning crews to more than 90 offshore facilities in the U.S. Gulf of Mexico that were evacuated this week as Hurricane Michael moved through the Gulf. Production shut-ins that had temporarily halted 42 percent of Gulf oil output and nearly a third of natural … [Read more...]

China’s Nexen Plans Gulf of Mexico Oil Exit Amid Trade War -Sources

By Jessica Resnick-Ault and Ron Bousso NEW YORK/LONDON, Sept 26 (Reuters) - Nexen Petroleum, a unit of China's CNOOC Ltd, plans to exit the United States, divesting its stake in giant oil and gas developments in the Gulf of Mexico as trade tensions between two countries mount, three people familiar with the plan told Reuters on Wednesday. Nexen has not determined whether it … [Read more...]

Shell Starts Production at Kaikias at $30 Break-Even Price

Royal Dutch Shell has kicked off production at its deepwater Kaikias development in the U.S. Gulf of Mexico at a break-even price of less than $30 per barrel. Shell Offshore, a subsidiary of Royal Dutch Shell, announced Thursday the early start of production at the first phase of Kaikias, which has an estimated peak production of 40,000 barrels of oil equivalent per day … [Read more...]

Shell Makes Large Deepwater Discovery in U.S. Gulf of Mexico

Royal Dutch Shell has announced a large deepwater discovery in the U.S. Gulf of Mexico approximately 170 miles off the coast of Louisiana. Shell Offshore Inc. said Thursday the exploration discovery was made in the Norphlet geologic play at the 100 percent Shell-controlled Dover well. The well was drilled in Mississippi Canyon Block 612, located approximately 170 miles … [Read more...]