Today marks exactly 12 years in the industry for me. Wonder what the future holds.
i just watched the movie. Prayers sent.Slappy74 said:
Oil platform on fire
http://m.chron.com/news/us/article/Coast-Guard-Fire-burns-on-oil-platform-in-Gulf-10836681.php
Renaissance I believe.Slappy74 said:
Oil platform on fire
http://m.chron.com/news/us/article/Coast-Guard-Fire-burns-on-oil-platform-in-Gulf-10836681.php
It's absurd that even the Chronicle can't find a writer who can speak halfway intelligently about O&G operations.Quote:
An oil platform exploded and sank in the Gulf of Mexico in April 2010, killing 11 workers. Millions of gallons of oil spewed into the Gulf for weeks before the oil well could be capped.
Ag2012 said:
Last line of the story:It's absurd that even the Chronicle can't find a writer who can speak halfway intelligently about O&G operations.Quote:
An oil platform exploded and sank in the Gulf of Mexico in April 2010, killing 11 workers. Millions of gallons of oil spewed into the Gulf for weeks before the oil well could be capped.
Quote:
The US Coast Guard has quenched a fire that broke out on an offshore oil production platform in the US Gulf of Mexico on Thursday morning.
Four people aboard the Renaissance Offshore-operated facility, located about 80 miles (128 kilometres) south of Grand Isle off Louisiana, evacuated into the water and were picked up by platform supply vessel Mary Wyatt Milano, the US Coast Guard said in a statement.
The Coast Guard was notified by watchstanders of the blaze on the facility around 2:30am local time on Thursday.
The blaze was extinguished at around 6:15 am, the Coast Guard said.
No injuries have been reported and there were no reports of an oil spill around the platform. The Coast Guard said it is still surveying the area.
PSV Mary Wyatt Milano and three other offshore supply vessels fought the fire, while the Coast Guard mobilised an HC-144 Ocean Sentry air crew from its Alabama base to monitor the incident, according to the statement. Oil spill response organisation Clean Gulf also responded.
Renaissance Offshore was formed in 2012 to acquire and develop legacy producing properties in the shallow waters of the US Gulf. The company is backed by private equity firm Quantum Energy Partners.
The company initially received a $300 million commitment and assembled a portfolio that includes former assets of Black Elk Energy, Chevron and Freeport-McMoRan, including operated fields in the Eugene Island, Ship Shoal and South Timbalier areas.
Renaissance did not immediately respond to a request for comment Thursday morning.
Quote:
US oil and natural gas production jobs increased in November for the first time in over two years as drillers returned to the well pad after crude rallied following its biggest price rout in a generation, according to US jobs data on Friday.
Combined oil and gas extraction and support services jobs increased by 3300 to 384,300 in November, its first increase since September 2014 when employment in the sector peaked at 536,100, according US Bureau of Labor Statistics (BLS) data.
Energy companies shed over 155,000 jobs over the prior two years as they cut the number of rigs drilling for oil from a record high of 1609 in October 2014 to a six-year low of 316 in May, according to the BLS data and Baker Hughes's rig count.
Those rig cuts came as US crude futures collapsed from over $107 a barrel in June 2014 to near $26 in February 2016 due to a global oil glut and lacklustre demand for the fuel.
Since then, crude prices have doubled to around $54 a barrel as Opec and non-Opec producers agreed to reduce output during the first half of 2017 in an effort to stem the oversupply.
Analysts said US exploration and production companies responded to those higher prices by adding more than 200 oil rigs over the past six months with even more spending expected on drilling over the next year or two.
Analysts at US financial services firm Cowen & Co said this week in a note that its capital expenditure tracking showed 25 E&Ps planned to increase spending by an average of 33% in 2017 over 2016.
That spending increase in 2017 followed an estimated 47% decline in 2016 and a 35% decline in 2015, Cowen said according to the 65 E&P companies it tracks.
The BLS only has data for support service jobs through November, while oil and gas extraction jobs data is available through December.
The BLS said oil and gas extraction jobs fell by 1300, or 1%, to 172,400 in December after gaining 1400 in November.
Northstar Offshore and Black Elk are owned by Platinum.Zemira said:
I might have missed it but anyone have any oil and gas properties owned by Platinum Partners or their subsidiaries?
They went down in a massive Ponzi scheme last month. I knew they were shady but no idea they had a Ponzi scheme going since I was dealing with a subsidiary.