Activity in U.S. Gulf slides even as major projects keep drilling
HOUSTON -- Activity in the Gulf of Mexico fell sharply in March as the offshore sector there finally felt the impact of the global oil price drop.
While onshore active drilling rig numbers have been cut steeply since crude prices fell by more than 50 percent, companies with lots of capital invested in the deepwater Gulf had expressed a desire to stay active.
GULF OF MEXICO:
Review shows ongoing species decline due to spill -- NWF
Scientists from the National Wildlife Federation during a trip to the Gulf of Mexico earlier this month documented a 25,000-pound tar mat, a barrier island devoid of its usual mangroves and a mother dolphin trying to resuscitate her dead infant.
The group aimed to counter BP PLC's claim that the Gulf and its coastal ecosystems are largely recovered five years after the massive 2010 Deepwater Horizon oil spill.
Stung by oil's fall, bidders barely show up for latest federal lease sale
A huge offshore drilling lease sale held in New Orleans yesterday drew far less interest than hoped as crude oil prices seem to have severely dampened the industry's enthusiasm for participation.
The Bureau of Ocean Energy Management reported weak interest for one of its largest lease auctions to date, Sale 235, covering the Central Planning Area of the Gulf of Mexico. Just a small fraction of the blocks up on offer received bids, covering a much smaller geographic area than might have otherwise been the case with higher oil prices.
House Dems, GOP slam administration's offshore energy plan
House lawmakers from both parties yesterday criticized the Obama administration's five-year offshore energy leasing plan, with Republicans arguing for more drilling and Democrats saying production should be limited to avoid potential oil and gas spills.
The criticism from both sides of the aisle underscored the challenges facing the Bureau of Ocean Energy Management as the agency moves forward with its 2017-2022 leasing plan.