Royal Dutch Shell plc, Chevron Corp and Exxon Mobil Corp signaled the oil industry's return to the Gulf of Mexico's deep waters with high bids in a government auction up 76 percent over a year ago. Oil and gas production from federal waters in the Gulf of Mexico generated approximately $8 billion in royalty revenue for American taxpayers in 2014. Maximum historical oil production rates for Gulf of Mexico wells. Shell's Perdido platform in the Gulf of Mexico. These files include information on oil and gas production by Lease, Well (API No. The producer … The 1992 line tracks production from these completions in successive years. Not included in the $8 billion is the nearly $1 billion in revenue from lease sales 231 (Central Area) and 238 (Western area), which, respectively, earned the government about $850 MM, and $110 MM. Figure 70a. Deepwater drilling accounts for approximately half of the oil production in the Gulf. Some producers are worried offshore output may take years to recover. Figures 70a (oil) and 70b (gas) compare maximum historical production rates for each lease in the GOM, i.e., the well with the highest historical production rate is shown for each lease. Founded as a Gulf Coast oil and gas company in 1985, PetroQuest Energy (NYSE: PQ) owns an interesting portfolio of assets located on the Gulf Coast and offshore Gulf of Mexico. The Gulf is responsible for approximately 17 percent of total U.S. domestic oil production and approximately five percent of total natural gas production. 2018 saw Otto return to the ranks of oil producers with production commencing from its 50% owned SM 71 oil field in the Gulf of Mexico shelf. Two Fieldwood Energy LLC oil workers face federal criminal charges for allegedly separately allowing crude oil spills from offshore U.S. Gulf of Mexico … Information for the Gulf of Mexico and Pacific Region are available in ASCII format on the pages listed below. Additional files are also available on historical Gulf of Mexico production from the … Oilfield Water Logistics (OWL), a leading provider of produced water infrastructure solutions in the Permian and Powder River Basins, on Jan. 6 acquired a portfolio of operating assets in New Mexico (the System) from a major Permian Basin oil producer (the Seller), including 23 saltwater disposal wells and 300 miles of water gathering pipelines. Over 100 operators work to produce oil and natural gas on the OCS. Corbis via Getty Images. Crude oil production in the Gulf of Mexico is a topic that generally flies below the radar, unless there’s a major hurricane that causes a big, downward spike in output or a man-made disaster like the Macondo/Deepwater Horizon blowout in April 2010, which effectively halted drilling in the Gulf … The oil and gas energy industry is vital to the economy of the Gulf of Mexico and the nation. ), or Lease Operator. The crash in oil prices is forcing drillers in the U.S. Gulf of Mexico to shut off wells. This page contains links to information about the number of operators producing oil and gas on a yearly basis and how they are specifically ranked by oil and gas production volume. The significant cash flow from SM 71 production and the startup of production in mid-2019 from the Lightning gas / condensate field underpins the forward strategy to grow in the Gulf of Mexico.