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  • Volume 120, Issue 11

    • Volume 120, Issue 11

    Nov. 7, 2022 | Hess-operated Tubular Bells spar sits 135 miles southeast of New Orleans in Mississippi Canyon in 4,300 ft of water. The field covers multiple blocks and is expected to recover 116.56 MMboe until the field reaches its economic limit in 2054.Tubular Bells is the first project to use a spar that was designed and built entirely in the U.S. at shipyards in Houma, La. and Ingleside, Tex. Hess holds 57.14% interest in Tubular Bells and Chevron USA Inc. holds 42.86% interest. Source: Hess Corp.

    More content from Volume 120, Issue 11

    General Interest

    Valero third-quarter profits more than quintuple

    Nov. 7, 2022
    Valero Energy Corp., San Antonio, reported net third-quarter profits of more than $2.9 billion, nearly six times its bottom line of the same period in 2021, as it more than doubled...
    General Interest

    Another SPR crude oil sale announced, revised purchase policy unveiled

    Nov. 7, 2022
    The Biden administration Oct. 18 announced the last of a series of crude oil sales from the Strategic Petroleum Reserve (SPR) and a revised approach to purchasing oil to add to...
    General Interest

    Shell posts Q3 adjusted earnings of $9.45 billion

    Nov. 7, 2022
    Shell plc reported third-quarter 2022 adjusted earnings of $9.45 billion, down from second-quarter adjusted earnings of $11.47 billion, but above first-quarter 2022 adjusted earnings...
    General Interest

    Mountain Valley Pipeline halts Southgate Extension eminent domain proceedings

    Nov. 7, 2022
    Mountain Valley Pipeline (MVP) LLC last week filed a voluntary dismissal of eminent domain proceedings in Alamance, Guilford, and Rockingham counties, NC, regarding its 73-mile...
    General Interest

    PSC: US shale growth could be lower for longer

    Nov. 7, 2022
    US shale growth is likely to remain slow, investment bank Piper Sandler (PSC) said in its latest research note. Citing conversations with operators, PSC said the inversion of ...
    General Interest

    IEA revised down global oil demand growth forecasts

    Nov. 7, 2022
    The relentless deterioration of the economy and higher prices sparked by an OPEC+ plan to cut supply are slowing world oil demand, the International Energy Agency (IEA) said in...
    General Interest

    Diamondback Energy signs bolt-on Midland basin deal

    Nov. 7, 2022
    Diamondback Energy Inc., Midland, Tex., has agreed to acquire all leasehold interest and related assets of FireBird Energy LLC, Fort Worth, Tex., in a cash and stock deal valued...
    General Interest

    ExxonMobil posts $19.7-billion Q3 earnings

    Nov. 7, 2022
    ExxonMobil Corp. had third-quarter 2022 earnings of $19.7 billion, up from second-quarter earnings of $17.85 billion. Third-quarter results included net favorable identified items...
    General Interest

    Eni weighs Livorno refinery-to-renewables conversion project

    Nov. 7, 2022
    Eni SPA has launched a feasibility study to evaluate the potential of building a new biorefinery at the operator’s existing 84,000-b/d refinery in Livorno, Tuscany, Italy. The...
    General Interest

    Supreme Court considers jurisdiction of Clean Water Act

    Nov. 7, 2022
    The US Supreme Court heard arguments Oct. 3 over whether the determination of Clean Water Act jurisdiction should be revised—a case that could have consequences for determining...
    General Interest

    Summit Midstream makes DJ basin acquisitions

    Nov. 7, 2022
    Summit Midstream Holdings LLC, a subsidiary of Summit Midstream Partners LP, will expand its Denver-Julesburg basin (DJ basin) assets through acquisitions totaling $305 million...
    General Interest

    API: US petroleum demand slipped in September

    Nov. 7, 2022
    US petroleum demand, as measured by total domestic petroleum deliveries, was 20 million b/d in September, according to the latest monthly statistical report by the American Petroleum...
    General Interest

    IEA: LNG contracting returns to more traditional terms

    Nov. 7, 2022
    Recent global LNG contracting activity has shown a return to traditional destination-fixed terms, while the duration and volume terms are more balanced, the International Energy...
    Photographic Services, Shell International Ltd.
    Shell-operated Appomattox platform, 80 miles offshore Louisiana at 7,400 ft water depth.
    Exploration & Development

    GOM production uptick includes lean development, lower emissions

    Nov. 7, 2022
    Gulf of Mexico production is expected to surpass pre-pandemic levels and hit record highs in the coming years as operators bring pandemic-delayed projects on-line while focusing...
    Well P&A Configuration.
    Drilling & Production

    Subsea coiled tubing reentry P&As wells from MSV

    Nov. 7, 2022
    Schlumberger, Helix Energy Solutions, Drilling Services of America, and TAM performed two subsea reentry abandonment operations in the GOM from a multiservice vessel which required...
    Source: Geosphere, 2016.
    GOM Continental Shelf Geothermal Gradients.
    Drilling & Production

    Geothermal offers options to repurpose GOM wells

    Nov. 7, 2022
    Energy can be extracted from decommissioned wells in the US Gul fo Mexico (GOM) based on typical offshore geothermal gradients, but most wells lack required water production for...
    Photo from Petrobras (Fig. 1).
    After cancelling plans for Comperj in 2019, Petrobras renamed the partially built project Polo GasLub Itaboraí as part of its plan to reposition the site as a hub for processing and distribution of Brazil’s offshore presalt natural gas production.
    Gas Processing

    Petrobras advances Route 3 presalt gas plant on revised timeline

    Nov. 7, 2022
    Petróleo Brasileiro SA (Petrobras) has revised its timeline for commissioning of a new natural gas processing unit (UPGN) under construction at the Polo GasLub Itaboraí hub in...
    Photo from FNPZ (Fig. 2).
    Commissioned in January 1959 and most recently outfitted with limited upgrades between 1997-2000, the 5.5-million tpy Fergana oil refinery’s crude throughputs have averaged only 1 million tpy during the last 10 years.
    Refining & Processing

    Newly privatized Uzbek refinery begins major modernization

    Nov. 7, 2022
    Sanoat Energetika Guruhi LLC is moving forward with the second phase of a major project to modernize recently acquired subsidiary Fergana Oil Refinery LLC’s refinery in Fergana...
    221107 Ogj048 E01
    Pipelines & Transportation

    Submerged hydrostatic level measurement replacing GWR

    Nov. 7, 2022
    Submerged hydrostatic level measurement in liquids storage tanks is a viable replacement for guided-wave radar (GWR) in the same application and can be installed without interrupting...