Bhp is ramping down operations at its Shenzi and Neptune oil platforms in the Gulf of Mexico ahead of back-to-back storms moving into the region, a spokeswoman said on Sunday. The purchase price of the Shenzi field stake is $505m. bhp gulf of mexico. BHP Billiton has entered into an agreement with Hess to acquire 28% stake in the Shenzi field in the Gulf of Mexico. The Mad Dog Phase 2 project is in response to the successful Mad Dog South appraisal well, which confirmed significant hydrocarbons in the southern portion of this field. The Mexican operator estimates the gross recoverable resource to be 485 MMboe. The companies have agreed to a purchase price of $505 million, subject to customary pre and post-closing adjustments. BHP Petroleum set a new record for deep-water drilling in American waters with the drilling of a well on Walker Ridge 425. We are also working to find our future heartlands through an active appraisal and exploration program in Mexico, Trinidad and Tobago, Western Gulf of Mexico, and Eastern Canada. Shenzi-3, drilled by GlobalSantaFe’s drillship CR Luigs in May 2004, encountered hydrocarbons in lower Miocene-aged reservoirs with approxima… gcaptain.com | 1d. The Neptune Field is located in the Gulf of Mexico in Atwater blocks 573, 574, 575, 617, and 618, approximately 120 miles from the coast of Louisiana in water depths ranging from 4,200ft to 6,500ft. NEW YORK – Hess Corp. has entered into an agreement to sell its 28% working interest in the Shenzi field in the deepwater Gulf of Mexico to BHP.. Australia’s BHP Billiton and the recently acquired Anadarko Petroleum submitted the largest dollar totals of high bids in US Gulf of Mexico Lease Sale 253. As a petroleum supplier, BHP has been closely studying the electrification of the global transport sector as the mega-trend raises big questions about future demand for its resources. BHP, formerly known as BHP Billiton, has approved $696 million in funding to develop the Atlantis Phase 3 project in the US Gulf of Mexico. Hess Corp. (NYSE: HES) reported Friday that it has completed the sale of its 28-percent working interest in the Shenzi Field in the deepwater Gulf of Mexico (GOM) to operator BHP (NYSE: BHP). "As the operator, we have more opportunity to grow Shenzi high-margin barrels and value with an increased working interest.". Following the company's acquisition of Hess Corporation's shares, BHP's remaining partner in the venture will be Spain's Respol with 28 per cent. One study projects that the overall impact of lost or degraded commercial, recreational, and mariculture fisheries in the Gulf could be $8.7 billion by 2020, with a potential loss of 22,000 jobs over the same time frame. 'Covid has interrupted our lives in ways we've never seen before. bhp gulf of mexico. The deal, which BHP said would allow it to add about 11,000 barrels of oil equivalent a day to its portfolio, comes after global oil prices collapsed and remain subdued as pandemic-related travel restrictions slash demand for fuel. BHP Group’s future can do without hydrocarbons. By Erwin Seba HOUSTON, Oct 26 (Reuters) – Oil producers on Monday shut offshore production and pulled workers off platforms in the U.S. Gulf of Mexico as the 27th named storm of the season strengthened into a hurricane and took aim at the U.S. Gulf Coast. Future Mad Dog and Atlantis developments stand out. BHP GULF OF MEXICO. Gulf of Mexico. Dec 1st, 2000. BHP today announced that it has signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28 per cent working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico. BHP. Shenzi is structured as a joint ownership: BHP (Operator, 44 per cent interest); Hess (28 per cent interest) and Repsol S.A. (28 per cent interest). We also own 25 per cent and 22 per cent, respectively, of the companies that own and operate the Caesar oil pipeline and the Cleopatra gas pipeline. BHP produces oil and gas predominantly in our heartland basins of the US Gulf of Mexico, Australia, Trinidad and Tobago. All our producing fields are located between 155 and 210 kilometres offshore from the US state of Louisiana. BP is the operator of Atlantis and holds a 56 percent working interest, with BHP holding the remaining 44 percent. In its Q1 2017 report, BHP Billiton says it was the apparent high bidder on two leases adjacent to the Scimitar prospect (GC260 and GC304) in the Central Gulf of Mexico Lease Sale 247. In February 2017, BHP Billiton announced a $2.2 billion investment in the new BP platform in the Gulf of Mexico. BHP approves US Gulf of Mexico project. The BHP Board has approved BHP’s US$696 million (~AUD$973m) share in funding to develop the Atlantis Phase 3 project in the US Gulf of Mexico. The Neptune Field is located in the Gulf of Mexico in Atwater blocks 573, 574, 575, 617, and 618, approximately 120 miles from the coast of Louisiana in water depths ranging from 4,200ft to 6,500ft. Recoverable reserves at the Neptune field are estimated to range between 100 and 150 million barrels of oil equivalent. BHP has signed a Membership Interest Purchase and Sale Agreement with Hess to acquire an additional 28 per cent working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico.Shenzi is structured as a joint ownership: BHP (Operator, 44 per cent interest); Hess (28 per cent interest) and Repsol (28 per cent interest). Shenzi-1, which was drilled in 2002, encountered a gross hydrocarbon column of 142m (465ft) with a net pay of 42.5m (140ft). BHP is growing its oil portfolio in the Gulf of Mexico but looking to streamline in Australia.Credit:Rob Homer. The project includes a subsea tie back of eight new production wells and is expected to increase production by an estimated 38,000 gross barrels of oil equivalent per day at its peak. The Trion field encompasses an area of 1,285 sq km (798 sq mi) and is located in the Perdido belt at a water depth of approximately 2570 meters. Atlantis Phase 3 is located in the deepwater Gulf of Mexico, approximately 208 kilometres off the coast of Louisiana. The Trion field encompasses an area of 1,285 sq km (798 sq mi) and is located in the Perdido belt at a water depth of approximately 2570 meters. Mr Henry has launched plans to boost BHP's exposure to the "future-facing" commodities nickel and copper, which are expected to greatly benefit from electrification due to their use as ingredients in electric batteries. Mexican operator estimates the gross recoverable resource to be 485 MMboe oil in multiple at... With bhp holding the remaining 44 percent 44 % stake, while Hess Respol..., was discovered in 2012 Mexico was encouraging to see and value with an increased working.. Per cent on Tuesday to end the day on the Mexican part Gulf. To have lost $ 247 million as a result of postspill fisheries closures waters!, subject to customary pre and post-closing adjustments trion find could be expected in mid-2020s at Caicos! 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