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  1. BOEM: Western Gulf of Mexico Lease Sale 248 scheduled for Aug. 24

    The US Bureau of Ocean Energy Management (BOEM) has scheduled western Gulf of Mexico Lease Sale 248 for Aug. 24 in New Orleans ( OGJ Online, Apr. 5, 2016 ). The auction includes all available unleased areas in the western gulf planning area for oil and gas exploration and development, covering 23.8 million acres located 9-250 nautical miles offshore Texas. It includes 4,399 blocks in 16-10,975 ft of water. As a result of offering this area for lease, BOEM estimates a range of economically recoverable hydrocarbons to be discovered and produced of 116 million-200 million bbl of oil and 538-938 bcf of natural gas. Sale 248 will be the 11 th offshore sale in the gulf and the final sale for the western planning area under the Obama administration’s Outer Continental Shelf oil and gas leasing program for 2012-2017. BOEM says the sale builds on the first 10 in the current 5-year program, which offered more than 60 million acres and netted nearly $3 billion. Leases issued from this sale will also be the first for which BOEM will accept requests for extended initial periods, and confirm whether the lessee has earned such extension, a task previously performed by the Bureau of Safety and Environmental Enforcement (BSEE).

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    Fri, 22 Jul 2016

  2. PHMSA proposes crude-by-rail response, data-sharing procedures

    The US Pipeline & Hazardous Material Safety Administration proposed new oil spill response and information procedures for high-hazard flammable trains (HHFT) in coordination with the Federal Railroad Administration.

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    Fri, 22 Jul 2016

  3. Bureau to offer 24 million acres in the Gulf of Mexico for oil and gas leasing

    BOEM announced that the bureau will offer 23.8 million acres offshore Texas for oil and gas exploration and development in a milestone lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.

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    Fri, 22 Jul 2016

  4. Transocean secures drilling contract offshore India

    Transocean has issued an update on it offshore drilling rigs.

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    Fri, 22 Jul 2016

  1. BOEM to broadcast upcoming GoM lease sale online

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    Fri, 22 Jul 2016

  2. Spectrum, BGP launch 2D seismic survey offshore Brazil

    Spectrum and BGP have started a 15,000-km (9,320-mi) multi-client 2D seismic survey offshore Brazil in the Santos and Campos basins.

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    Fri, 22 Jul 2016

  3. Silver Run Acquisition Corp. to acquire controlling stake in Centennial Resource Production

    Silver Run Acquisition Corp. has agreed to acquire a controlling interest in Centennial Resource Production LLC, an independent oil and natural gas company located in the Southern Delaware Basin.

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    Fri, 22 Jul 2016

  4. WoodMac: US Lower 48 producers record $150 billion in capex cuts during 2016-17

    The US Lower 48 has accounted for $150 billion of the $370 billion in global capital expenditure reductions by upstream firms during 2016-17, according to analysis from WoodMackenzie.

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    Thu, 21 Jul 2016

  5. MARKET WATCH: NYMEX oil price climbs back toward $45/bbl

    Light, sweet crude oil prices for August delivery gained nearly 30¢ to settle at just under $45/bbl on the New York market July 20 after a weekly US government report showed the ninth consecutive decline in crude oil supplies.

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    Thu, 21 Jul 2016

  6. PPL’s Gambat South well yields possible tight gas discovery

    The Pakistan Petroleum Ltd.-operated Hadi X-1A exploration well, located on the Gambat South block in the Sanghar district of Pakistan’s Sindh province, flowed 0.85 MMscfd on a 32/64-in. choke, confirming the presence of natural gas.

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    Tue, 19 Jul 2016

  7. Oil and Gas News: Texas oil and gas leases jump despite oil price slump

    The demand to lease Texas' publicly held land for oil and gas exploration jumped three-fold in the past six months — even as oil prices have remained low.

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    Wed, 20 Jul 2016

  8. Oil and Gas News: Libyan dinar slides more amid continued political deadlock

    Libya's dinar has plunged to a new low on the black market amid continued political deadlock in this oil-rich country.

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    Wed, 20 Jul 2016

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