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Operators plunge into deepwater Gulf of Mexico on both sides of the border: US Upstream week in brief December 07 2016

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Report summary

Mexico deepwater licensing round closes on a high note with BHP securing Trion block in partnership with Pemex. In addition BP sanctions Mad Dog phase II and Mitsui re enters the region as Shell sells down its stake in Kaikias. Onshore Chesapeake finds a PE buyer for its Haynesville position and producers are rushing to lock in $55/bbl oil for 2017 after OPEC announcement last week. We interrogate all these topics in this note. Stories this week include: Mexico's deepwater licensing round closes with great success. Sit. Stay. Sanction! Mad Dog II fetches an FID from BP. Not quite Permania! but deepwater M&A gains momentum as Shell and Mitsui strike a deal. Private equity tightens its grip on the Haynesville with Indigo Minerals' purchase of Chesapeake acreage. Dakota Access easement denied a short lived victory? Surge in hedging activity indicated by flattening curve for oil price futures.

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    Operators plunge into deepwater Gulf of Mexico on both sides of the border: US Upstream week in brief December 07 2016

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Tables and charts

This report includes 10 images and tables including:

Images

  • Deepwater blocks on offer in Round One
  • Trion Block awarded to BHP for deepwater exploration
  • Mad Dog in BP's deepwater GoM portfolio
  • Breakevens of sanctioned projects in DW GoM through the downturn
  • Bakken oil supply - pipeline takeaway capacity balance
  • Volume of hedges added by quarter
  • Proportion of production hedged by year
  • Operators plunge into deepwater Gulf of Mexico on both sides of the border: US Upstream week in brief December 07 2016: Image 9
  • Share price performance, crude oil & gas inventories, horizontal rig count stats
  • Operators plunge into deepwater Gulf of Mexico on both sides of the border: US Upstream week in brief December 07 2016: Image 11

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