Feds: Market forces pushing offshore rig counts down
The government's top offshore energy overseers on Tuesday defended the Obama administration's approach to oil and gas drilling along the nation's coastlines, insisting that market forces -- not federal...
View ArticleOffshore auction tests industry’s appetite amid slumping prices
Just 35 companies are participating in the government auction of Gulf of Mexico drilling rights -- down from 50 a year ago and 56 in a similar March 2013 auction -- suggesting that lower oil prices may...
View ArticleFeds collect millions in Gulf oil drilling sale, despite falling prices
Slumping oil prices tempered some of the industry's enthusiasm for new drilling rights in the Gulf of Mexico -- but not much.
View ArticleOil industry to Obama: Stop excluding Atlantic drilling leases
Oil industry leaders on Monday pressed the Obama administration to reverse course and schedule two auctions of drilling rights in the Atlantic, not just the single sale now penciled in for 2021.
View ArticleShell exec: U.S. risks losing drilling dollars to Brazil, Canada and Mexico
The Obama administration's plan for selling offshore oil and gas leases from 2017 to 2022 could jeopardize the United States' competitiveness as Brazil, Canada, Mexico and other countries aggressively...
View ArticleHouston traffic ensnares OTC speakers
Houston traffic -- made all the more formidable by the arrival of tens of thousands of guests for the Offshore Technology Conference -- delayed a session Monday morning.
View ArticleObama administration gives thumbs up to Shell’s Arctic drilling plans
Shell moved one step closer to resuming its $6 billion quest for crude in the Arctic on Monday, with the Obama administration's approval of its broad plan for exploratory oil drilling in the Chukchi...
View ArticleLow oil prices drive down bidding for Gulf of Mexico drilling rights
With just five companies participating and only 33 leases sold, the turnout was the lowest western Gulf auction since area-wide leasing began in 1983, according to the Bureau of Ocean Energy Management.
View ArticleObama administration plan would ensure energy companies pay to scrap old...
The move by the Interior Department's Bureau of Ocean Energy Management is designed to ensure that the companies have set aside enough money to dismantle offshore facilities once oil and gas stops...
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