Gulf Of Mexico Shelf News

U.S.-based offshore service firm Helix Energy Solutions has secured a 39-well decommissioning contract in the U.S. Gulf of Mexico shelf with an unnamed client. The project, awarded to Helix's Louisiana-based subsidiary Helix Alliance, is expected to start in mid-2023.The scope of work includes the plug and abandonment of 39 wells, 15 pipelines, and seven structures.

U.S. based offshore well services company Helix Energy Solutions Group has finalized the previously announced acquisition of the Alliance group of companies, bolstering its decommissioning footprint in the Gulf of Mexico.Alliance is a Louisiana-based privately held company that provides services supporting the upstream and midstream ‎industries in the Gulf of Mexico shelf, including offshore oil field decommissioning and ‎reclamation, project management, engineered solutions, intervention…

U.S.-based offshore oil and gas services firm  Helix Energy Solutions Group is set to buy equity interests of Louisiana-baed Alliance group of companies for $120 million cash at closing, plus the potential for post-closing earnout consideration.Alliance is a Louisiana-based privately held company that provides services supporting the upstream and midstream ‎industries in the Gulf of Mexico shelf, including offshore oil field decommissioning and ‎reclamation, project management…

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.

John Mingé, Regional President BP Alaska, appointed Chairman/President of BP Americas Inc., succeeded by Janet Weiss. John Mingé, has served as head of BP’s Alaska business since January 1, 2009. He will be based in Houston, where he will serve as BP’s lead representative in the US. “BP’s history in Alaska stretches back more than five decades and it is one of the largest and most important businesses in BP’s global portfolio,” Mr. Mingé said. Ms. Weiss serves currently in Alaska as Regional Vice President, Resources, accountable for resource progression and subsurface activities, as well as for IT. In her new role, she will be responsible for BP's oil and gas exploration, development and production activities in Alaska, as well as its interests in the Trans-Alaska oil pipeline.

Energy Partners Ltd. has reported its Gulf of Mexico Shelf exploratory well in South Timbalier 214 No. 2 was drilled but did not find commercial hydrocarbons and is being declared a dry hole. New Orleans-based Energy Partners is currently drilling a well called La Psada in Vermillion Parish, La.

Energy Partners Ltd. has reported its Gulf of Mexico Shelf exploratory well in South Timbalier 214 No. 2 was drilled but did not find commercial hydrocarbons and is being declared a dry hole. New Orleans-based Energy Partners is currently drilling a well called La Psada in Vermillion Parish, La.

Dominion agreed to sell its offshore natural gas and oil exploration and production operations to Eni Petroleum Co. Inc., a subsidiary of Italian energy company Eni, for approximately $4.76 billion. These operations include approximately 967 billion cubic feet equivalent of proved natural gas and oil reserves in the Gulf of Mexico shelf and deep water as of Dec. 31, 2006, with 2006 average daily production of approximately 503 million cubic feet equivalent. "Today’s announcement is a significant step in Dominion’s previously announced strategic plan to refocus on the power generation and energy distribution, transmission, storage and retail businesses," said Chairman, President and CEO Thomas F. Farrell II.

Ziff Energy Group (ZEG), a leading North American energy consulting firm, with offices in Houston and Calgary, announces the launch of the 6th edition of its Deepwater Reducing Field Operating Costs (RFOC) study, which will evaluate 2006 operating costs for more than 2 dozen Deepwater producing assets in the Gulf of Mexico. Participation will include 9 Deepwater operators, who collectively account for over 80% of the 1.36 million barrels of oil equivalent per day (MMBOE/d) produced in the Deepwater region of the Gulf of Mexico (see map below for the locations of the floating production assets to be included; the study will also include fixed and subsea assets). Ziff Energy’s last Deepwater study was conducted 3 years ago, assessing 2003 data.

Dominion Exploration & Production, a wholly owned subsidiary of Dominion, announced a natural gas discovery on the Gulf of Mexico Shelf at the West Cameron 130 field. The field is located in 40 ft. of water approximately 250 miles southwest of New Orleans. “We are encouraged by this latest discovery in what continues to be the core area for our Gulf of Mexico Shelf program,” said Kevin P. Guilbeau, senior vice president and general manager for Dominion E&P’s offshore unit. “The new discovery is deeper than our existing production in the field. An exploratory well, the West Cameron 130 #3 reached a depth of 19,365 feet and encountered approximately 250 feet of net pay in multiple zones.

Unocal Corporation's Spirit Energy 76 unit announced its Spirit Energy Partners, L.P., affiliate has agreed to acquire substantially all the Gulf of Mexico shelf assets of Tana Oil and Gas Corporation. The Tana acquisition includes interests in 12 proven properties and nine offshore platforms. The purchase price was not disclosed. Tana has an estimated net risked resource potential of more than 18 million barrels of oil equivalent (MMBOE), including more than 10 MMBOE in proved reserves. Estimated average annual production for 2000 is more than 10,000 BOE per day. "The acquisition of the Tana assets will provide the opportunity to enhance Spirit Energy's position in areas where we already possess a strong foothold and enjoy highly profitable operations," said John T.

Unocal Corporation's Spirit Energy 76 unit said its exploration drilling successes and aggressive development program on the Gulf of Mexico shelf area in the first half of 1999 should more than offset the natural production declines for the year. "We have a long record of low drilling and operating costs on the shelf, which enables us to enjoy returns that cannot be matched by the typical shelf operator," said Roger C. Beach, Unocal chairman and CEO. Beach noted Spirit Energy's GOM shelf prospects are predominantly natural gas and deliver production quickly, making them extremely attractive in the current capital-constrained environment.

Unocal Corporation replaced 101 percent of its worldwide crude oil and natural gas production (excluding sales and price-related revisions) during 1998 with new proved reserves as the company focused on adding value and re-energizing its domestic U.S. exploration program. "In the U.S., our Spirit Energy 76 unit recorded more than 30 discoveries in the Gulf of Mexico shelf and onshore area and added 65 MMBOE in proved reserves through discoveries and extensions, improved recovery and purchases," said Roger C. Beach, Unocal chairman and CEO. Spirit Energy 76 replaced 108 percent of its production (excluding sales and price-related revisions), particularly as a result of a 64-percent exploration success rate on the Gulf of Mexico shelf during the year.

Unocal Corporation replaced 101 percent of its worldwide crude oil and natural gas production (excluding sales and price-related revisions) during 1998 with new proved reserves as the company focused on adding value and re-energizing its domestic U.S. exploration program. "In the U.S., our Spirit Energy 76 unit recorded more than 30 discoveries in the Gulf of Mexico shelf and onshore area and added 65 MMBOE in proved reserves through discoveries and extensions, improved recovery and purchases," said Roger C. Beach, Unocal chairman and CEO. Spirit Energy 76 replaced 108 percent of its production (excluding sales and price-related revisions), particularly as a result of a 64-percent exploration success rate on the Gulf of Mexico shelf during the year.

Mobil Corporation said it expects 1999 capital and exploration expenditures, including cash investments in equity companies, to be $4.8 billion, down about 11 percent from the estimated 1998 spending level of $5.4 billion. Mobil retains flexibility to revise the 1999 spending budget if crude oil prices fail to improve from current depressed levels or if additional attractive investment opportunities develop during the year. Mobil Chairman Lucio A. Noto said, "The 1999 investment program has been prudently scaled back in view of depressed industry conditions in most of our businesses, and Mobil's commitment to a disciplined level of spending.

Unocal Corporation's Spirit Energy 76 unit announced its Spirit Energy Partners, L.P., affiliate has agreed to acquire substantially all the Gulf of Mexico shelf assets of Tana Oil and Gas Corporation. The Tana acquisition includes interests in 12 proven properties and nine offshore platforms. The purchase price was not disclosed.