The U.S. affiliate of Colombia's Ecopetrol will explore for oil in four blocks in the Gulf of Mexico, partially in partnership with Anadarko U.S. Offshore Corp., the company said.
Three of the blocks, located off the Texas coast, will be explored with Anadarko U.S. Offshore, a unit of Anadarko Petroleum Corp. The two companies offered $2.4 million for exploration rights, Ecopetrol said.
Ecopetrol has complete rights to exploration in the fourth block, for which it bid $2.8 million in August.
The U.S. government's Bureau of Ocean Energy Management has approved the bids. Ecopetrol first explored in the Gulf in 2008.
Recommended Reading
IMF Grants Argentina Access to $4.7B as Inflation Surpasses 200%
2024-01-12 - With rampant inflation, the IMF granted Argentina access to $4.7 billion for policies to restore macroeconomic stability, a move that could lead to more international investment, including from oil and gas companies.
Argentina's Vaca Muerta Shale Formation Drives Record Oil Production in February
2024-03-22 - Argentina's Neuquen province hit a record for daily oil production in February.
Excelerate Energy’s CEO Kobos Bullish on US LNG
2024-02-22 - In a world rattled by instability, his company offers a measure of energy security to natural gas users via its fleet of floating storage and regasification units.
CERAWeek: Trinidad Energy Minister on LNG Restructuring, Venezuelan Gas Supply
2024-03-28 - Stuart Young, Trinidad and Tobago’s Minister of Energy, discussed with Hart Energy at CERAWeek by S&P Global, the restructuring of Atlantic LNG, the geopolitical noise around inking deals with U.S.-sanctioned Venezuela and plans to source gas from Venezuela and Suriname.
Heard from the Field: US Needs More Gas Storage
2024-03-21 - The current gas working capacity fits a 60 Bcf/d market — but today, the market exceeds 100 Bcf/d, gas executives said at CERAWeek by S&P Global.