Noble Corporation Forecasts Manageable Cost for Retrofitting Gulf Rigs
Noble Corporation predicts that additional capital expenditures necessary to comply with new regulations for drilling in the Gulf of Mexico should not exceed $10 million per rig. In the company's second quarter 10-Q report filed with the SEC yesterday, management ...
Oil Industry Plans Disaster Response System for Future Spills
The Wall Street journal has reported that Exxon Mobil, Chevron, Royal Dutch Shell, and ConocoPhillips are planning to announce the formation of a joint venture to design, build, and operate a rapid response system to address the impact of a ...
Contango Announces New Production; May Pay Special Dividend
Contango Oil & Gas Company issued a press release today that announced new production from recent discoveries in the Gulf of Mexico. In addition, the company announced new production from eight onshore wells in Texas that are part of a ...
Confusion Reigns Over Shallow Water Drilling Policy
Early this afternoon, the Washington Post reported that the Minerals Management Service had rescinded five shallow water permits through emails indicating that all drilling permits would not be approved regardless of water depth. Soon after the story broke, the Interior ...
GEICO Enters Massachusetts Market
GEICO has announced plans to begin selling auto insurance in Massachussets following the implementation of reforms that eliminate price regulaton by the state and permit companies to set their own rates. With GEICO's entry into the Massachussets market, the company ...