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  • Offshore Operator News

    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™.

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  • Hess Corporation to Proceed with Development of Tubular Bells

    Hess Corporation will proceed with the development of Tubular Bells, a deepwater project in the Gulf of Mexico. The field lies in water depths ranging from 4,300 to 4,600 feet. The plan initially calls for three subsea production wells and two water injection wells from two subsea drill centers tied back to a third-party owned spar production facility, the first of its kind to be constructed entirely in the U.S. Drilling is scheduled to begin in 2012 and initial production is expected in 2014.

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  • Offshore Operator News

    Noble Energy, Inc. announced a discovery at the Santiago exploration prospect in the deepwater Gulf of Mexico. The well, located in 6,500 ft of water on Mississippi Canyon 519, was drilled to TD at 18,920 ft. Open-hole logging identified about 60 ft of oil pay in a high-quality Miocene reservoir. Noble Energy is the operator at Santiago with a 23.25% working interest.

     

    ATP Oil & Gas Corporation concluded drilling on the deepwater Mississippi Canyon (MC) 941 A-2 well located at ATP’s Telemark Hub, and all pay sands encountered in the earlier MC 941 A-1 well were present, essentially confirming pre-drill estimates. The main pay sands are about 500 ft structurally higher than the MC 941 A-1 well and 1,000 ft above the original oil-water contact.

     

    Stone Energy Corporation’s board of directors has increased the company’s 2011 capex budget from $425 million to a range of $475-500 million due to a projected increase in production, oil prices, and estimated cash flow, combined with an attractive inventory of capital projects. Stone has additionally increased its 2011 production guidance from 200-220 MMcfe/d to 205-225 MMcfe/d.

     

    Williams Partners, LP has received a contract award from Hess Corporation to provide production handling ...

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  • MWCC Grows to Ten Members

    The Marine Well Containment Company (MWCC) announced that its membership has grown to 10 members at the conclusion of the company’s formation period. The MWCC member companies are now Chevron, ConocoPhillips, ExxonMobil, Shell, BP, Apache, Anadarko, BHP Billiton, Statoil and Hess. These 10 companies operated approximately 70 percent of deepwater wells drilled in the U.S. Gulf of Mexico between 2007 through 2009.

     

    McDermott International, Inc. announced that one of its subsidiary companies was awarded fabrication and installation work from Chevron U.S.A., Inc. to support the development of the Jack and St. Malo fields.

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  • W & T Offshore Announced 2011 Budget

    W&T Offshore, Inc. announced a 2011 capital budget of $310 million, excluding the pending acquisition of the Gulf of Mexico producing shelf property under letter of intent with Shell Offshore, Inc. and other potential acquisitions. The budget contains capital to drill 14 wells, including 10 exploration and four development wells. Of those 14 wells, five are on the conventional shelf, one is in the deepwater, two target the deep shelf of the Gulf of Mexico, and six wells are located onshore.

     

    Hess Corporation announced its 2011 capital budget of approximately $5.6 billion. A portion of the budget -- $1.55 billion -- is targeted for field development, including field redevelopment work at Valhall, and Pony and Tubular Bells projects in the Gulf of Mexico.

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  • Hess Corp. to Acquire Additional Interest in Tubular Bells Field

    Hess Corporation has agreed to acquire an additional 20 percent interest in the Tubular Bells oil and gas field in the Gulf of Mexico from BP, plc for $40 million and will become the operator. The field is located in Mississippi Canyon 683 in 4,325 feet of water. The increased ownership will bring Hess’s working interest to 40 percent; Chevron Corp. holds a 30 percent interest, and BP will retain 30 percent.

     

    ATP Oil & Gas Corporation announced the formation of ATP Titan, LLC to monetize its investment in the ATP Titan. The ATP Titan is a newly built floating production facility that began production operations at ATP’s deepwater Telemark Hub in March 2010. This is the second monetization of ATP’s floating production infrastructure; ATP monetized the ATP Innovator located at ATP’s deepwater Gomez Hub in March 2009.

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