U.S. Offshore Wind Projects Move Closer To Reality
Dow Jones reported that deal making and development in the wind arena continue even as the economy slows down, with the federal government moving ahead to grant leases for the U.S.'s first offshore wind projects in history and other state-based projects moving to the front burner. Comments on federal rules to govern a host of alternative energy projects proposed in federal waters off the coast of the drew about 225 responses by Monday's deadline, as the U.S. Mineral Management Service, or MMS, moves ahead with plans to lease the outer continental shelf to several companies. Maureen Bornholdt, program manager of the MMS offshore alternative energy program, said the Interior Department remains on track to complete drafting the rules by the end of the year, wrapping up a three-year process.
New Offshore Completes Workover Deck for the Nansen Spar
New Offshore, Inc. has completed the fabrication of a deck extension for Kerr McGee’s Nansen spar, a deepwater (3,678 feet) floating production facility in East Breaks block 602 in the Gulf of Mexico. The deck extension will support compression equipment. Fabrication of the 40-ton, 24-foot by 68-foot structure was carried out at New Offshore’s waterfront fabrication facility in Morgan City and included the fabrication of five plate girders. Because the Nansen spar is a floating structure, all fabrication and welding was performed in accordance with requirements of the U.S. Mineral Management Service, U.S. Coast Guard and the American Bureau of Shipping (ABS). ABS issued a certification of compliance on completion.
Interest Declining In Offshore Acreage Leases
Preliminary results of the latest government sale of offshore oil and natural gas exploration acreage leases in the U.S. Gulf of Mexico show a decline in oil company interest in the properties, according to the U.S. Mineral Management Service. The declining interest could be explained, at least in part, by the fact that a lot of inventory from past sales is unexplored and undeveloped, and companies are now focusing on developing those properties before acquiring more acreage, an MMS spokesman said.
Interest Declining In Offshore Acreage Leases
Preliminary results of the latest government sale of offshore oil and natural gas exploration acreage leases in the U.S. Gulf of Mexico show a decline in oil company interest in the properties, officials from the U.S. Mineral Management Service (MMS) said on Tuesday. The latest sale, the Western Gulf Lease Sale 174, received 177 bids from 37 companies on a total of 153 acreage tracts. Bids in the previous sale, held in March, resulted in 272 bids from 67 companies for 207 tracts. The sales are held twice annually, the first for acreage in the central Gulf and the second in the west for acreage offshore Texas and Louisiana. Gulf of Mexico…
In Katrina’s Wake, Oil Surges Past $70
Hurricane Katrina swept ashore yesterday as a Category 4 hurricane, and has left untold destruction to the Gulf states of Louisian, Mississippi and Alabama. Another effect of the storm could be felt for months to come, as crude oil futures briefly touched above $70 per barrel for the first time, and natural gas futures jumped nearly 20 percent. According to an AP report, the Bush administration is considering releasing some oil from the nation's emergency petroleum stockpile to help refiners once the storm passes, though a final decision apparently has not been made. According to AP, wholesale gasoline prices in the New York and Gulf Coast markets jumped 25-35 cents a gallon on Monday following reports that about eight percent of U.S.
