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Shell backs out of Alaska for foreseeable future with financial hit

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Shell announced on Monday that it will cease further exploration activity in offshore Alaska for the foreseeable future. The balance sheet carrying value of Shell’s Alaska position is approximately $3.0 The Burger J well is approximately 150 miles (241 km) from Barrow, Alaska, in about 150 feet (46 meters) of water.

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US DOE to award up to $20M for research on methane hydrates

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Selected projects will be intended to support program goals to determine the (1) likelihood of methane hydrates as a potential energy resource and (2) their role in the natural environment. In addition, methane is itself a potent greenhouse gas, remaining in the atmosphere for about a decade before it is converted to carbon dioxide.

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Department of Interior seeking industry input on interest in potential oil and gas lease sale in Alaska’s Cook Inlet

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The Department of the Interior’s (DOI) Proposed Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2012-2017 (earlier post ) includes one potential special-interest lease sale in the Cook Inlet Planning Area (Sale 244). Between 1978 and 1985, 13 exploration wells were drilled in the federal waters of the Cook Inlet Planning Area.

Oil 199
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DOE to award up to $20M for further studies on methane hydrates; projects worth up to $80M

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The US Department of Energy (DOE) has issued a funding opportunity announcement for up to $20 million ( DE-FOA-0001023 ) for applications for selection and award in FY 2014 that focus on the (1) methane hydrate reservoir-response field experiments in Alaska; and (2) field programs for marine gas hydrate characterization.

Alaska 210
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US offshore oil and gas leasing plan for 2017-2022 focuses on Gulf of Mexico, excludes Arctic

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The Proposed Final Program offers 11 potential lease sales in four planning areas—10 sales in the portions of three Gulf of Mexico Program Areas that are not under moratorium and one sale off the coast of Alaska in the Cook Inlet Program Area. —Secretary Jewell. Areas off the Atlantic coast are not included in this program.

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UT Austin to lead $58M study of methane hydrate in Gulf of Mexico; $41M from DOE

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Methane hydrate—natural gas trapped in an ice-like cage of water molecules—occurs in both terrestrial and marine environments. Prior programs in Alaska have explored gas hydrate reservoir potential and alternative production strategies, and additional testing programs are in development.

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Foss Maritime to build first three of new Arctic Class of deep-sea tugs for oil and gas industry

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Responding to new oil and gas industry opportunities, Foss Maritime Company will build the first three tugs in an. to take on large projects in extreme environments. Foss says the new tugs will position it to compete for opportunities in the oil and gas industry. Several oil and gas customers are.

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