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AMERICAS OIL: Offshore Oil Rigs Suffering ‘Calamitous’ Issues to Resume Output

AMERICAS OIL
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Offshore Oil Rigs Suffering ‘Calamitous’ Issues to Resume Output: Bloomberg

  • Pipeline operator Genesis Energy said a string of “calamitous” operational issues that have plagued deep sea oil rigs since last year are close to being resolved.
  • Genesis Chief Executive Officer Grant E. Sims in an earnings call Thursday said three rigs in the Gulf of Mexico expect to restore production “over the next several months,” after mechanical failures disrupted operations at multiple offshore oil fields.
  • Sims, in October, called the spate of operational issues the worst in four decades.
  • Oil production in the Gulf of Mexico fell 11% in November and 6% in October, according to the most recent federal data.
  • Sims said the development of the Shenandoah and Salamanca offshore oil fields remain on schedule and are expected to begin operations in Q2. 
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Offshore Oil Rigs Suffering ‘Calamitous’ Issues to Resume Output: Bloomberg

  • Pipeline operator Genesis Energy said a string of “calamitous” operational issues that have plagued deep sea oil rigs since last year are close to being resolved.
  • Genesis Chief Executive Officer Grant E. Sims in an earnings call Thursday said three rigs in the Gulf of Mexico expect to restore production “over the next several months,” after mechanical failures disrupted operations at multiple offshore oil fields.
  • Sims, in October, called the spate of operational issues the worst in four decades.
  • Oil production in the Gulf of Mexico fell 11% in November and 6% in October, according to the most recent federal data.
  • Sims said the development of the Shenandoah and Salamanca offshore oil fields remain on schedule and are expected to begin operations in Q2.