Shell and Chevron Sanction GOM Project and More

Oil & Gas

Here are some of Rigzone’s top stories during the last week, just in case you missed them…

Shell and Chevron Sanction GOM Deepwater Project

Shell reported the final investment decision for Whale, a deepwater U.S. Gulf of Mexico (GOM) development. Shell Offshore Inc, which will operate Whale, holds a 60 percent interest in the project, while Chevron U.S.A. Inc. holds the remaining 40 percent stake.

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What’s Missing from Oil Prices? 

The world’s two leading oil price benchmarks are omitting some important considerations, according to the head of a privately held Dallas-based oil and gas operator.

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Natural Gas Supply Concerns Mount

Bloomberg reported that natural gas futures soared to $4 per million British thermal units in the U.S. for the first time since December 2018. Summer heat intensified concerns about tight supplies later this year, Bloomberg noted.

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McDermott Wins Baltic Chemical Project

Heat Transfer Technologies DMCC awarded McDermott International an engineering and procurement contract for a licensed modular spent caustic unit for the world’s largest polyethylene integration project.

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SBM Offshore Signs 26 Year FPSO Deal with Petrobras

SBM Offshore signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 26.25 year lease and operation of the FPSO Almirante Tamandaré. The FPSO will be the largest oil producing unit operating offshore Brazil and one of the largest in the world, according to SBM Offshore.

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Lime Rock Buys Texas Assets for $500MM+

Lime Rock Resources has reached a definitive agreement to buy oil and gas properties in the Delaware Basin of Texas for $508.3 million from “a private seller”. The acquired property was producing 15,163 barrels of oil equivalent per day as of the April 1 transaction effective date, Lime Rock Resources revealed.

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