| Gulf of Mexico Oil Industry News |
The US is the world's largest energy producer, consumer, and net importer,
ranking 11th worldwide in reserves of oil, 6th in natural gas,
and first in coal.
The United States contains over a half million producing oil wells,
most of which are "marginal" or "stripper" wells.
During 2004, top oil producing areas included the Gulf of Mexico
(1.5 million
bbl/d), Texas onshore (1.1 million bbl/d), Alaska's North Slope
(886,000 bbl/d), California (656,000 bbl/d), Louisiana onshore
(228,000 bbl/d), New Mexico (176,000 bbl/d), Oklahoma (171,000
bbl/d), and Wyoming (141,000 bbl/d).
Onshore US production has been falling, while in recent years offshore
(mainly Gulf of Mexico) production has been rising. For 2005, prior
to
Hurricanes Katrina and Rita in August and September, Gulf of Mexico
oil production had been expected to increase due to new fields
coming online in 2003 and 2004 (e.g., the southern Green Canyon deepwater
area). By late 2005, the Mars, Mad Dog, Ursa, Thunder Horse and
Nakika Federal Offshore fields had been expected to account for
about 12 percent of Lower-48 oil production, however hurricanes
Katrina and Rita did substantial damage in the GOM.
Toward the end of 2005, 46% of the Gulf of Mexico's
1.5 million bbl/d crude oil production capacity remained offline,
40% of the area's 10 billion cubic feet per day (Bcf/d)
of natural gas production capacity also down.
The 2006 - 2007 hurricane season is also predicted to
be extremely active with nearly twice the normal number of storms
predicted. |
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| Current GOM Oil Industry
News |
Updated :
Also last week a report provided to the panel investigating the oil spill on behalf of Obama indicated ... people in recent surveys have indicated that they believe that Deepwater GOM drilling needs to continue.
Publ.Date : Sat, 04 Sep 2010 15:51:00 GMT
HOUSTON--(BUSINESS WIRE)--ATP Oil & Gas Corporation (NASDAQ: ATPG - News ) Chairman and CEO T. Paul Bulmahn will present on Wednesday, August 25 th at EnerCom’s The Oil & Gas Conference in Denver. During a live ...
Publ.Date : Mon, 23 Aug 2010 18:42:00 GMT
Scope Analyses the impact of the GOM Oil Spill on the US Offshore Policy and Regulations Reviews the impact of the investment flows in deepwater drilling in the US Comments on the impact of the oil spill on offshore ...
Publ.Date : Mon, 30 Aug 2010 19:10:00 GMT
All financial assets will look to the U.S. nonfarm payrolls data on Friday for directional guidance. With prices already up significantly after a huge two-day rally, traders may opt to take profits ...
Publ.Date : Fri, 03 Sep 2010 03:42:00 GMT
I just saw the most recent short interest on ATP Oil and Gas ( ATP ) which now amounts ... allow for pooling of interests by smaller operators and that works well for the GOM independents. 11) And the drilling ...
Publ.Date : Mon, 30 Aug 2010 08:47:00 GMT
Regular readers of my articles know that I am a shareholder of ATP Oil and Gas (ATPG) as well as a ... FBR Analyst Notes That Any BP Spill Bill Becoming Less Likely – Independent GOM Producers Still Priced ...
Publ.Date : Thu, 02 Sep 2010 22:12:00 GMT
Contango Oil & Gas Company (NYSE Amex: MCF) has updated ... invest approximately $85 million to: i) Drill four wildcat exploration wells in the Gulf of Mexico (“GOM”) at a cost of approximately $15 million each ...
Publ.Date : Mon, 23 Aug 2010 16:55:00 GMT
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Industry Links |
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