Tag Archives: offshore

Oil Company Finds Another Problem in Alaska Marine Pipelines

ANCHORAGE, Alaska (AP) — A petroleum company under investigation for leaks in two underwater pipelines in Alaska’s Cook Inlet confirmed Friday it has an issue with a third. Hilcorp Alaska LLC shut down a natural gas pipeline last weekend when volumes of natural gas moved from a production platform did not match what was received by a processing facility on shore. Hilcorp shut down the line after “a discrepancy in the metering,” said spokeswoman Lori Nelson in a prepared statement. Flights over the line did not detect gas bubbling, but as a precaution, Hilcorp emptied […]

Entek to Sell Off Entire Gulf of Mexico Portfolio

May 2016, Vol. 243, No. 5

Australian Entek Energy Limited has entered into an agreement with Houston-based Peregrine Oil & Gas to sell the company’s entire Gulf of Mexico portfolio for almost $3 million as market conditions continue to take their toll. Entek will be divesting its 38-percent interest in the GA A133 block and its 25-percent interest in the PN 975 block, as well as its royalty interest in two other blocks, VR 341 and 342. By way of background, the GA A133 and PN 975 gas developments have now both been shut-in following their natural depletion and are scheduled […]

Oil Production in Federal GOM Expected to Hit Record High in ’17

February 2016, Vol. 243, No. 2

U.S. Gulf of Mexico (GOM) crude oil production is estimated to increase to record-high levels in 2017, even asprices remain low. The Energy Information Administration (EIA) projects GOM production will average 1.63 MMbpd in 2016 and 1.79 MMbpd in 2017, reaching 1.91 MMbpd in December 2017. GOM production is expected to account for 18% and 21% of total forecast U.S. crude oil production in 2016 and 2017, respectively. Production in the GOM is less sensitive than onshore production in the Lower 48 states to short-term price movements. However, decreasing profit margins and reduced expectations for a […]