Yesterday’s Gulf of Mexico lease sale brought in just over $102 million in high bids, less than the two previous sales. Various news outlets described it in less-than-glowing terms. Oil & Gas Journal called the results “lackluster“, while Fuel Fix said the sale drew “tepid interest“. “This sale was not eye-popping, and may be closer to a… Keep reading →
The price of West Texas Intermediate crude had risen for five consecutive days as of yesterday afternoon – “the longest stretch of gains since April” – on news of escalating unrest in Egypt, as Brent hit a four-month high. A police crackdown on protests in Egypt has left more than 500 dead. [Bloomberg] Iran has… Keep reading →
US energy policy is on hold for now, but several top-tier energy issues issues will be front and center when the House and Senate return to Capitol Hill after the August recess, according to Frank Maisano, Senior principal in law firm Bracewell Giuliani’s Government Relations and Strategic Communications Practice. Energy watchers should be on the… Keep reading →
With all the great speakers and presentations at the USAEE /IAEE North American Conference in Anchorage this week, it’s hard to pick and choose among so many well-expressed ideas. Our USAEE updates represent just a few of our favorite quotes from the ongoing events. Oil and gas operations always come with risk. When accidents happen,… Keep reading →
An offshore natural gas well blew out yesterday in the Gulf of Mexico about 150 miles south of the Louisiana coast. All personnel were safely evacuated and no injuries were reported. Environmental group Natural Resources Defense Council took the opportunity to comment on risk associated with petroleum development and suggested that risk is too great… Keep reading →
A rise in well permitting in recent weeks seems to point to robust drilling activity in the second half of this year, according to Barclays. The bank monitors permitting data in 30 states, which has been on an upward trajectory of late. Onshore drilling permit activity showed a 4% increase month-over-month in June, adjusted to… Keep reading →
Mexico is heading towards much-needed energy sector reform, and with two of the country’s three major political parties in broad alignment on energy goals, major changes to the sector look more likely than ever, according to attorneys in the energy practice of law firm Mayer Brown. Mexico is major oil producer, and one of the… Keep reading →
The House passed a bill yesterday approving an offshore energy development agreement on the maritime border between the US and Mexico. But some Democrats opposed the bill, which waives the Dodd-Frank requirement that requires companies to disclose payments made to foreign governments. Nothing strange in that at all. [The Hill] Sources say that President Obama… Keep reading →
Can BP successfully challenge $blns in settlement payouts related to the Deepwater Horizon explosion and subsequent Gulf of Mexico oil spill? The company is accusing “trial lawyers and some politicians” of submitting thousands of inflated or false claims. [New York Times] Can biomass really challenge Gazprom’s supremacy as an energy supplier to Eastern Europe and… Keep reading →
The Offshore Energy and Jobs Act introduces reforms to revive offshore drilling, including a new five-year leasing plan aimed to expand drilling in the Atlantic and Pacific coastal regions. On May 30, 2013, House Natural Resources Committee Chairman Doc Hastings (R-Wash.) introduced a bill to expand offshore drilling to the Atlantic and Pacific coasts by… Keep reading →
