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

Offshore

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

Two Hurt in Petrobras Platform Accident; Output Halted

Brazil's state-led oil company Petrobras was forced to stop output at its P-56 offshore oil production ship on Wednesday in the Marlim Sul field after an explosion

Dynamic Positioning Training Center Launched in Shanghai

C-MAR, an international marine and offshore services provider, and the Shanghai Maritime University (SMU) has officially launched the Dynamic Positioning training

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Winch
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: 0.1557 sec (6 req/sec)