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Tag Archives: gulf of mexico

Nelson seeks hearing on BP’s proposed settlement

Florida’s senior U.S. senator, Bill Nelson, is pushing the U.S. Justice Department to hold at least one public hearing in Florida on its proposed $18.7 billion settlement with BP over the 2010 Deepwater Horizon disaster. And if in the future the Gulf of Mexico exhibits some new harm as a result of the oil and dispersant that spread around the ...

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Hercules Offshore Files for Bankruptcy

Hercules Offshore Inc., an offshore oil field services company, will declare bankruptcy next month as part of a major financial restructuring plan to wipe out its $1.2 billion in debt. According to Reuters, in April, Hercules retired several rigs and last November, laid off 324 employees in response to dropping oil prices and decreasing demand for its shallow water drilling ...

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Historic oil meeting in Cuba set for October

A first-of-its kind oil summit in Cuba organized by U.S. energy-industry heavy hitters is expected in October. The meeting, set for Havana from Oct. 18-21, comes amid loosening tensions and expanding diplomatic relations between the United States and Cuba. “The symposium is both historic and unique, the first-ever bringing together of high-level experts and leaders from the U.S. to join ...

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History of the Transco pipeline

The 10,200-mile Transcontinental pipeline — known as the Transco pipeline — that brings natural gas from the Gulf of Mexico to the eastern Seaboard states came about after World War II in response to fears of a power and industrial collapse in the event of another world war. Construction of what was to be the world’s largest and longest pipeline, ...

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Marcellus permit activity in Pennsylvania


The Marcellus Shale formation in Pennsylvania saw a little bit of action over the last week, along with one Pittsburgh-based oil and gas development company whose portfolio grew a little more. Trimont Energy Ltd. announced last week that it is the security buyer of Energy XXI’s East Bay Field in the Gulf of Mexico.  Trimont spent $21 million on the ...

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Trimont drops big money on Gulf oil field


Trimont Energy Ltd. finally shared that it is the “mystery buyer” that purchased an oil field from the largest public independent oil producer in the Gulf of Mexico, Energy XXI Ltd. According to Energy XXI, it sold its East Bay Field for $21 million and the deal was made official on July 1st.  In the company’s announcement it also shared ...

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