Market reports indicate ENSCO, plc and Noble Corporation are close to signing long-term floating rig contracts in the Gulf of Mexico. Indications are that BP will charter newbuild drillship ENSCO DS-6 for a multiyear (believed to be five-to-seven years) contract starting in the first-half of 2012. The rig is scheduled for delivery from Samsung Shipyard in South Korea in December. Further rumors are that Noble will sign semi Noble Jim Day to a new multi-year deal with Shell starting in February 2012. The rig is currently working for the operator under a one-year deal that began in February. Shell also has contracts in the Gulf with Noble for semis Noble Danny Adkins, Noble Driller and the Noble Jim Thompson, and is due to pick up newbuild drillships Noble Bully I and Noble Globetrotter I later this year and in early 2012. Details of the new contracts will be reported once they are wrapped up. Meanwhile, BP and Petrobras have finalized a sixmonth sublet of newbuild drillship ENSCO DS-3, and the rig is now underway to Angola. The rig is scheduled to work there until mid-2012, after which it likely will return to the US Gulf. ENSCO’s contract with BP runs ...

Stone Energy Corporation signed an agreement with BP, plc, providing for the acquisition by Stone of BP’s 75% operated working interest in the five block deep water Pompano field in Mississippi Canyon, a 51% operated working interest in the adjacent Mississippi Canyon block 29, a 50% non-operated working interest in the Mica field which ties back to the Pompano platform, and interests in certain deep water exploration leases located in the vicinity of the Pompano field. The purchase price under the agreement is a $204 million cash transaction. The Pompano platform is a fourleg, twelve-pile fixed structure situated in 1,300 feet of water with 23 producing wells and production capacity of 60,000 bopd and 135 mmcfg/d. The acquisition is expected to close by early 2012.

ConocoPhillips’ newly designated Chief Executive Officer, Ryan Lance, has selected three members of his executive management team, including Matt Fox who will become Executive Vice President, Exploration and Production. Alan J. Hirshberg will become Executive Vice President, Technology and Projects and Don E. Wallette, Jr. will become Executive Vice President, Business Development and Commercial.

Chevron Corporation reported its subsidiary, Chevron Brasil Upstream Frade, Ltda., has voluntarily suspended its current and future drilling operations, offshore Brazil. ...

Spartan Offshore has received a further extension from Century Offshore that will now keep jackup Spartan 303 under contract through May 2012. The rig has been working for Century since mid-February.

Hercules Offshore received contract extensions for two jackups recently. First, Hall-Houston extended its deal on the Hercules 212 for two wells in East Cameron Block 160. The rig is currently under tow to the new location, with work expected to keep the rig busy for around 90 days, making it next available for work around the end of January 2012. Pisces Energy has also exercised its option on the Hercules 263. The rig has now arrived on location in South Pelto Block 13 where it is expected to be until mid-December when a 50-day contract with Tana Exploration in set to begin. The Hercules 150 has arrived in Sabine Pass where it will undergo 45-50 days of leg repairs after it suffered a punchthrough trying to get on Tarpon Offshore’s location in West Cameron Block 265. It has not yet been determined if Tarpon will wait for the rig or switch to an alternative unit. The jackup is also scheduled to go to Arena Offshore for a 45-day ...

W&T Offshore has successfully drilled the Main Pass 108 No. 8 well. The well reached TD 12,878 feet and found seven pay sands. The company owns a 100% working interest in this well and is currently in the process of completing this conventional shelf development well.

Plains Exploration & Production Company (PXP) has executed a securities purchase agreement with EIG Global Energy Partners in which PXP will receive $450 million of cash proceeds in exchange for a 20% equity interest in Plains Offshore Operations, Inc., a wholly owned subsidiary of PXP established to hold all of PXP’s Gulf of Mexico assets. Included in the assets is the Lucius oil development project, a discovery with first production anticipated in 2014.

Williams Partners, LP has signed multiple agreements with Hess Corporation and Chevron to provide production handling, export pipeline, oil and gas gathering and gas processing services in the Tubular Bells field development. Hess and Chevron will utilize Williams Partners’ proprietary floating production system, Gulfstar FPS™.