Volume 36 | September 13, 2017
Beauty in the Gulf
This image was sent to us by an offshore Energy Worker. It is a picture of the BP Mars Platform at night in the Gulf of Mexico.


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Email: lori@gestnews.org
BSEE Well Control Rule Forum
Next week BSEE is hosting a workshop in Houston to receive additional feedback on the Well Control and Blowout Preventer Systems rule ("Well Control Rule") as part of their regulatory reform initiative.  

In 2016, the previous administration finalized the Well Control Rule with minimal input from industry and stakeholders. In fact, GEST commissioned a study by international consulting firm Wood Mackenzie which was released in 2016 that demonstrated the severe impacts the Well Control Rule would have on America's oil and gas industry, our national economy and Gulf Coast communities. Some of those impacts are listed below. 

Ultimately, the study demonstrated that the Well Control Rule would impact the attractiveness of the Gulf of Mexico for future oil and gas investment and result in oil and gas operators choosing to develop energy resources in other parts of the world, leading to long term irreversible energy impacts. The cost burden of the rule was far reaching and would be shared by all offshore operators, drilling contractors and service providers. GEST looks forward to being part of the process to revise the Well Control Rule to ensure continued safe offshore energy operations while not crippling America’s oil and gas industry.
Notable Impacts of the Well Control Rule
(from 2016 Wood Mackenzie Study):

  • Decreased exploration drilling by up to 55%, or 10 wells annually;
  • Reduced Gulf of Mexico energy production by 35% by year annually;
  • Reduced industry investment by up to $11 Billion annually;
  • 105,000 to 190,000 job losses, which includes jobs beyond energy sector, with 80% of those job losses in Louisiana and Texas;
  • Reduced government tax revenues by $5 billion annually through 2030;
  • Reduced GDP by $27-45 billion annually by 2030; and
  • Reduced lease sale revenues by 40% through 2025
BIC Column: Lori LeBlanc- Expanding offshore development would expand economic benefits 
Like hunting and fishing, oil and gas is a way of life here. Louisiana proudly serves as the gateway to the Gulf, the front door to the boundless energy potential just miles off our coast and thousands of feet under the water’s surface. It is a job Louisianans have done proudly, and it has become a significant part of our culture, just as much as our bountiful hunting and fishing, wildlife watching, ecotourism, and unique food and music.

That’s the message I took to the U.S. House Subcommittee on Energy and Resources in July when I testified in a public hearing focused on evaluating federal offshore oil and gas development on the Outer Continental Shelf (OCS). As President Trump, Interior Secretary Ryan Zinke and Congress begin to consider a new five-year OCS leasing program, LMOGA and our industry partners want to help everyone understand the substantial economic benefits Louisiana has reaped by serving as an offshore energy hub, and the potential benefits our entire country could realize by opening more of the OCS to oil and gas development. 
LLOG advances Buckskin project in deepwater US gulf
 via Oil and Gas Journal
LLOG Exploration Co. LLC has let a contract to Seadrill Ltd. for the West Neptune drilling rig to drill and complete two wells as part of development of the Buckskin project in the deepwater Gulf of Mexico.

The rig will move to the Buckskin location in the fourth quarter. LLOG has also ordered several long-lead items for topsides and remains on track to start production in the second half of 2019.

The large-scale deepwater development will be a 6-mile subsea tieback to the Anadarko Petroleum Corp.-operated Lucius Spar. The project will use equipment rated to 15,000 psi and utilize dual 8-in. flowlines with riser base gas lift.
Pro-growth economic policies will strengthen America's energy infrastructure via API
WASHINGTON, September 6, 2017 – API President and CEO Jack Gerard welcomed the President’s commitment to advancing our nation’s energy security through pro-growth tax reform and economic policies during his remarks today at a North Dakota oil refinery. 

“In today’s speech the President recognized the importance of America’s energy infrastructure and workers. The oil and natural gas industry knows the value of both as it continues response and recovery efforts in the wake of Hurricane Harvey and remains focused on the safety of its workers, communities, and the environment. Industry employees, many impacted personally by the storm, are working to safely bring production, pipeline and refining operations back on line to continue to meet the needs of American energy consumers.
     Help be the Gulf's Voice    
In the Gulf of Mexico we are proud to produce the energy to fuel America, to generate the revenues for the U.S. treasury, and to create thousands of good paying American Jobs. We stand together to be Gulf Proud. Energy Strong .  
Gulf Economic Survival Team | 985-448-4485 | gulfeconomicsurvival.org
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