Gulf of Mexico

Production delivered by the subsea artificial lift system will equal that obtained by drilling two new wells, according to BP.

Thanks to stepout-well and tieback technologies, Shell’s Mars platform is the first single offshore platform in the US Gulf to produce 1 billion bbl of crude over its lifetime with production expected to continue into the 2040s.

INEOS Energy and Shell have partnered to invest in Gulf of Mexico exploration, while Eni reported strong productivity from its Geliga 1 discovery in Indonesia. Santos is advancing its Agogo project in Papua New Guinea, and ConocoPhillips received approval to redevelop several previously producing oil fields in Norway’s Greater Ekofisk Area.

Talos Energy founder Tim Duncan has been named executive chairman of newly formed 1947 Oil & Gas, which will focus on acquiring and developing mature, shallow-water assets through its buyout of Renaissance Offshore. The deal is expected to close in Q2 2026.

Co-owner Chevron confirmed the find at the Bandit prospect offshore Louisiana and suggested it may become a subsea tieback to existing faciltiies operated by Occidental Petroleum.

The department announced it plans to combine the Bureau of Offshore Energy Management and the Bureau of Safety and Environmental Enforcement into the Marine Minerals Administration.

In a move tied to national security, a Trump-appointed committee voted to exempt oil and gas drilling in the Gulf of Mexico from Endangered Species Act requirements, marking the first such exemption in 3 decades.

BP sanctioned development of the Kaskida in 2024, with first oil from the high-pressure project expected in 2029.

Companies largely focused on deepwater acreage in the second Gulf lease sale held under the One Big Beautiful Bill Act.

Latest 5-year assessment puts undiscovered technically recoverable gas resources on the US Outer Continental Shelf at 218 Tcf.