Oil boom returns to the Gulf of Mexico
Carl
Surran, SA News Editor
- Four years after the Deepwater Horizon disaster, giant new oil projects are returning to the Gulf of Mexico - bigger and more expensive than ever - even as U.S. oil prices are below $80/bbl at a four-year low.
- New projects alone have the combined capacity to pump
~900K bbl/day: Hess (NYSE:HES) said Monday that it had started
pumping crude from its deepwater Tubular Bells installation,
Exxon (NYSE:XOM) and Anadarko (NYSE:APC) plan to start up two more major Gulf
projects in the coming months, and Hess, Chevron (NYSE:CVX) and other partners recently
OK'd a $6B Gulf development.
- Even BP is returning in a big way, with two Gulf projects, plans to spend $4B/year in the Gulf for the next decade, and developing technology to drill at greater depths.
- All this is happening even as costs are jumping, partly because companies are drilling farther from shore and in deeper waters; deepwater wells are up to 25% more expensive today than in 2010, and drilling the average deepwater well takes 13% longer than it did before the 2010 oil spill.
- Shell’s (RDS.A, RDS.B) 100K bbl/day Olympus, which came
online ahead of schedule and under budget, began tapping oil and gas in
the Gulf of Mexico in February; it is also working on a new Gulf project
that will tap an oil field under 9,500 feet of water, 3x deeper than
Olympus.
Quelle: seekingalpha.com
Quote:
Oil Boom Returns to Gulf After Deepwater Horizon Disaster
Exxon, Shell—Even BP—Push Ahead With Giant Offshore Projects..
Quelle: wsj.com
Quelle: blog.thomsonreuters.com
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