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With a $31.1 million cash offer, W&T Offshore Inc. was the successful bidder on an interest in three blocks in Heidelberg field in the Gulf of Mexico offered in connection with the Chapter 11 bankruptcy proceedings of Cobalt International Energy Inc. and its subsidiaries.

A ductile tensile overload fracture of a subsea jumper’s load limiting joint led to an estimated 1,926 bbl of crude oil leaking from a Shell Offshore Inc. offshore platform in the Gulf of Mexico on May 11, 2016, a US Bureau of Safety and Environmental Enforcement panel’s investigation concluded.

Oil prices fell on markets in New York and London Mar. 12, and the US benchmark continued falling in early trading Mar. 13 after the US Energy Information Administration’s latest drilling report forecast tight oil production will rise by 131,000 b/d in April to 6.95 million b/d.

Mubadala Petroleum, a wholly owned subsidiary of Mubadala Investment Co., has agreed to acquire 10% participating interest in the Shourouk concession and its supergiant Zohr gas field offshore Egypt from Eni SPA for $934 million.

A debate about the proposed Nord Stream 2 natural gas pipeline at the Atlantic Council on Mar. 12 quickly became heated as some participants argued that it would serve a broader Russian political purpose while others said it simply would increase available supplies for European customers. Speakers generally seemed to agree that the US should encourage an effective solution but keep its distance otherwise.


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