Gulf of Mexico upstream news

Noble Energy, Inc. has announced that its Board of Directors has authorised a US$750 million share repurchase programme.  In addition, the Company has executed an agreement to sell its deepwater Gulf of Mexico assets to Fieldwood Energy LLC (Fieldwood) for a total value of US$710 million. 

Three production wells are currently completed, and production is expected to ramp up through 2018.

PetroQuest Energy, Inc. has announced the sale of its Gulf of Mexico properties on January 31, 2018, but effective as of December 1, 2017.

On 31 January, Shell acquired nine exploration blocks for the Mexican Gulf of Mexico in the deepwater bid round.

The company has announced one of its largest US Gulf of Mexico exploration finds in the psat decade from the Wale deepwater well.

The well reached a total depth of 7717 ft MD in 22 days and ahead of schedule. First production from all three wells is expected March 2018.

Total has reinforced its position in deepwater Gulf of Mexico by signing an agreement with Samson in order to acquire Samson Offshore Anchor, LLC.

The initial phase of the deepwater project consists to two development wells in Keathley Canyon 829 and a six mile subsea tieback to the Lucius plat form at Keathley Canyon 875.

API President and CEO has released a statement on Interior Secretary Zinke's announcement to remove the Eastern Gulf of Mexico from the five-year offshore oil and natural gas leasing plan.

The In-line Compensator has been deployed and operated from a deepwater drill ship in 3500 ft of water.