Fieldwood Hungry for US Offshore Output
The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico. Instead, he is doubling down. The private equity-backed company - already the largest operator on the U.S. outer continental shelf - announced on Thursday it is closing a $480 million acquisition of Noble Energy’s assets in the Gulf of Mexico that will add 25,000 barrels per day (bpd) to its current net production of 72,000 bpd of oil equivalent.
Oil Platform Ablaze in the Gulf of Mexico
Fire broke out on an unmanned oil platform in the Gulf of Mexico approximately five miles south of Port Fourchon, La., the Bureau of Safety and Environmental Enforcement (BSEE) reported. BSEE is responding to the damaged unmanned platform in South Timbalier (ST) Block 27. The ST 27 IA platform is operated by Energy XXI, GOM, LLC, which reported to BSEE that the platform had been damaged, possibly by a vessel, at approximately 4:30 a.m. Friday. The fire on the platform was extinguished through firefighting efforts by vessels in the area, and no injuries have been reported.
Armed with New Technology, Oil Drillers Revisit Gulf of Mexico
Advances in drilling technology are reviving the prospects of oil companies in shallow parts of the Gulf of Mexico, helping to squeeze more from older fields while the U.S. shale bonanza lures others onshore. Apache Corp and a handful of smaller independent companies are using seismic surveying and horizontal drilling - techniques perfected during the onshore fracking boom - to tap mature fields and find hidden reserves on the shelf. The methods appeal to investors hungry for the quick profits that cannot be delivered by deepwater drilling, where a dozen years of planning and billions of dollars in investment can be required to get oil pumping.
Finalists Named for DOI’s 2006 Safety Awards for Excellence (SAFE)
Fifteen offshore energy companies have been named national finalists for the Department of the Interior’s 2006 Safety Awards for Excellence (SAFE) competition. Sponsored by the Minerals Management Service (MMS), the SAFE awards are presented annually to Outer Continental Shelf (OCS) oil and gas operators and contractors who achieve excellence in safety and pollution prevention. Established in 1983, the SAFE Awards recognize and honor companies making concerted efforts to train and motivate their employees to conduct offshore operations in a safe and environmentally responsible manner. The SAFE Award is presented annually to offshore…
