U.S., BP finalize $20B Deepwater Horizon settlement
Five and a half years after the massive Deepwater Horizon oil spill closed fisheries, smothered wildlife and destroyed coastal wetlands from Texas to Florida, the federal government today finalized its roughly $20 billion settlement with BP PLC -- the largest ever with a single entity in America's history -- and unveiled its plan for repairing the damage.
The parties this morning filed the final consent decree with the federal district court in New Orleans. It hews closely to the principles laid out by the parties in July when a deal was first announced, although after taking a more refined look at the numbers, its total value is now estimated by the government to be as much as $20.8 billion (Greenwire, July 2).
Freeport-McMoRan hits new oil in deepwater Gulf
A new oil discovery in the Gulf of Mexico's deepwater frontier was announced yesterday.
The oil and gas arm of global mining giant Freeport-McMoRan Inc. told investors Monday that a rig it contracted with encountered a volume of hydrocarbons worthy of developing further at its Horn Mountain Deep well. The development is in the Mississippi Canyon region of the Gulf just off the southeast tip of Louisiana.
New rig simulators heading to Gulf Coast
Advanced offshore oil and gas equipment simulators will be coming to the Texas Gulf of Mexico coast very soon, companies announced last week.
Maersk Training, which has rapidly expanded its footprint in Houston, formally announced that new offshore rig simulation technology will be operational and open for use in November. The newer simulation technology is called wellSim hiDRILL.
BSEE director worries oil downturn will affect safety
HOUSTON -- The Bureau of Safety and Environmental Enforcement's new confidential "near miss" reporting system is getting off to a rough start, but BSEE's director is inviting input to make it better.
Brian Salerno, who became BSEE's director in 2013, also expressed dismay at the recurrence of safety issues in industry operations in the Gulf of Mexico, drawing a contrast between companies that are members of the Center for Offshore Safety and those who are not.