Topic
gulf of mexico
Commodities US Gulf of Mexico Lease Sale BBG3 Rebounds but Still Far Short of 2025 Record
The third Big Beautiful Gulf lease sale yielded $82.7m in high bids for 59 blocks, rebounding from March's weak result but still less than a third of the December 2025 record. The Marine Minerals Administration said bidding remained highly selective, with 16 companies focusing on a narrow set of prospects, while the Trump administration faces pressure over oil prices linked to the war in Iran.
Commodities Transocean adds $292m to backlog with Gulf of Mexico and Africa rig deals
Offshore drilling contractor Transocean has secured two contract extensions and one new contract for three rigs, adding approximately $292m in incremental backlog. The deals include a $530,000/day extension for Deepwater Conqueror in the US Gulf of Mexico and a $361,000/day extension for Deepwater Skyros with Murphy in Ivory Coast. Total backlog is approximately $6.7bn, excluding the pending $1bn Equinor package.
Commodities BP removes crews from Gulf of Mexico platforms as Tropical Storm Bertha approaches
BP is evacuating nonessential personnel from its Thunder Horse and Na Kika platforms in the Gulf of Mexico ahead of Tropical Storm Bertha. Chevron earlier suspended output at its Petronius facility and removed staff from Tubular Bells and Blind Faith. The storm has sustained winds of 95 kph and is expected to bring dangerous surf conditions through Wednesday.
Commodities Chevron Pulls Personnel from Gulf Assets Ahead of Tropical Storm Bertha
Chevron has shut in production at its Petronius facility and evacuated personnel from Tubular Bells and Blind Faith platforms in the U.S. Gulf of Mexico as tropical storm Bertha approaches. The National Hurricane Centre issued a tropical storm watch for parts of Florida and Louisiana. Earth Science Associates estimates up to 2 million barrels of oil production could be affected, sharply higher than the 10,000 barrels impacted by tropical storm Arthur last month.
US Gulf of Mexico Third Offshore Lease Sale Scheduled for August Bidding
The US Bureau of Ocean Energy Management (BOEM) has scheduled its third Gulf of America oil and gas lease sale for August 12, 2026, offering about 15,100 unleased blocks across 325,367 sq km. The sale follows a weak second sale in March that drew only $47 million in high bids, significantly lower than the $280 million raised in the first sale in December 2025. The auction is part of 30 required sales under the One Big Beautiful Bill Act and Trump's Executive Order 14154.
Commodities Petrobras and Pemex Sign MoU for Gulf of Mexico Oil and Gas Cooperation
Brazilian state oil company Petrobras and Mexican state oil company Pemex have signed a memorandum of understanding to cooperate on hydrocarbon projects in the Gulf of Mexico. The two-year agreement covers exploration and production in deepwater and mature fields, as well as industrial activities including refining, petrochemicals, and lower-carbon fuels.
Commodities SLB OneSubsea wins BP contract for Thunder Horse subsea boosting system in Gulf of Mexico
SLB OneSubsea, a joint venture of SLB, Aker Solutions, and Subsea7, has secured an engineering, procurement, and construction contract from BP for a subsea boosting system on the Thunder Horse project in the US Gulf of Mexico. The award follows recent boosting contracts for BP's Kaskida and Tiber developments, all using a standardized solution to improve efficiency and shorten delivery times. Thunder Horse is the world's largest moored semi-submersible production platform, capable of over 200,000 boe/d.