Frontier Acquisitions in Gulf of Mexico

Thursday, April 16, 2009

StatoilHydro has acquired a 40% stake in 50 blocks from BHP Billiton in the frontier DeSoto Canyon area of the US Gulf of Mexico.

“DeSoto Canyon is a mostly unexplored region in the eastern part of the Gulf of Mexico (GOM). Obtaining early access to new plays is regarded by the company as key to our success,” said StatoilHydro vice president of exploration for North America, Tony Dore.

“We did a similar early access deal with ExxonMobil in 2005 in the Walker Ridge Area of Central GOM.  We believe that through a close cooperation with BHP Billiton we can mature high quality prospects,” he said.

DeSoto Canyon is located east of StatoilHydro’s current production operation at Independence Hub. The area has water depths of about 1,000 metres.

StatoilHydro and BHP Billiton bid at the recent OCS Central Lease Sale 208 on 14 additional blocks within the trend, and together the two companies were the apparent high bidder on all blocks.

The issuance of leases on these 14 blocks is subject to the Minerals Management Service’s final approval.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

ABB hands over Germany’s DolWin1

DolWin1 integrates 800 megawatts (MW) of clean energy into the German transmission grid ABB, the leading power and automation technology group, has successfully

Korean Shipyards in Troubled Water

Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg.

NOIA Applauds RI Offshore Wind Project

National Ocean Industries Association (NOIA) president Randall Luthi issued a statement congratulating “steel in the water” for Deep Water Wind’s Block Island Wind Farm,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1202 sec (8 req/sec)