ConocoPhillips deepwater discovery in the Gulf of Mexico
On March 19th, ConocoPhillips had announced that they have discovered oil at the Shenandoah well. Yesterday, they had discovered another well in the Gulf of Mexico. ( The Coronado well).
"The Coronado discovery adds to our exploration success in the prolific Lower Tertiary Trend," said Larry Archibald, senior vice president, Exploration. "The exciting results from the Coronado and Shenandoah discoveries confirm the value of our portfolio in the Gulf of Mexico and provide visibility on our future plans to grow through organic exploration."
ConocoPhillips is one of the largest leaseholders in the deepwater Gulf of Mexico with approximately two million net acres. In 2013, the company plans to drill between five and eight wells, including the Ardennes prospect, which spud earlier this quarter, and the Thorn well, scheduled to spud in the second quarter of 2013.
Gulf of Mexico Poised to Remain Strong in Coming Years
“The Gulf of Mexico (GOM), one of the major petroleum-producing areas of the world, is in the early stages of an extended growth cycle and is poised to remain one of the strongest offshore markets in the world in terms of deepwater activity. Overall, rig count and exploration and production (E&P) activities are at pre-Macondo levels and look tocontinue on an incline for the next couple of years.”
The Gulf of Mexico remains one of the most geologically attractive areas, It is also located in a stable region of the USA
BP fines two engineers who may have been the cause of the explosion
As you can recall, the damage caused in the Gulf of Mexico by the BP oil spill in 2010 was massive. The explosion killed 11 workers, lost between 50,000 and 75,000 barrels of oil a day and all the oil flowed into the gulf for more than 100 days killing many animals and endangering their habitats. BP has spent roughly about $42 billion dollars since then.
“…2 engineers made what turned out to be a catastrophic misjudgment about a critical safety test. Now the men face criminal charges in a court case starting later this month that experts say will be a tough test for both the prosecution and defense.”
“Don Vidrine, 65 years old, and Robert Kaluza, 63, are slated to appear in U.S. District Court in New Orleans on Nov. 28 on charges including "seaman's manslaughter" that could send them to prison for a decade or more.”
“The charges stem from their failure to properly interpret a key safety test on the drilling rig before the deadly blowout, which killed 11 people and caused the largest offshore oil spill in U.S. history. “
“Chevron Corp. has announced that the deepwater drillship Pacific Santa Ana has arrived in the Gulf of Mexico to work for Chevron under a five-year contract with a subsidiary of Pacific Drilling S.A. Pacific Santa Ana is the first drillship designed with the capacity to perform dual gradient drilling (DGD). Santa Ana has the potential to change the way deepwater wells are drilled.”
Dual drilling and conventional drilling are quite different. Chevron Corp is the first and only to come out with the new dual deep water drilling system. This system is very green and saves time and money.
Deepwater drilling uses a single drilling fluid weight in the borehole, dual gradient drilling employs two weights of drilling fluid – one above the seabed, another below. This allows drillers to more closely match the pressures presented by nature and effectively eliminates water depth as a consideration in well design. DGD also allows drillers to more quickly detect and appropriately react to down hole pressure changes, which can enhance the safety and efficiency of deepwater drilling operations.