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The oil and gas company offering the highest up-front payment to the government (called a bonus) wins the lease. The government also receives a fixed annual rental based on the area for non-producing leases, and a percentage of the market value of any oil or gas produced and sold (royalty). The leases expire after a set number of years, or ...
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About 1.6 million barrels of crude oil remained offline, with only about 100,000 barrels added since Saturday. Another 1.8 billion cubic feet per day of natural gas output also was shut-in, the ...
The Bayou Bridge Pipeline (BBP), is a 162-mile long 24” crude oil pipeline project through Louisiana's Atchafalaya Basin.It crosses 11 parishes (Calcasieu, Jefferson Davis Parish, Louisiana, Acadia Parish, Louisiana, Vermilion Parish, Louisiana, Lafayette Parish, Louisiana, Iberia Parish, Louisiana, St. Martin Parish, Louisiana, Iberville Parish, Louisiana, Ascension Parish, Louisiana ...
Upon its creation, four salt caverns on the Texas and Louisiana coasts were designated as SPR locations, and today they can hold up to 727 million barrels, according to the Energy Department.
The Louisiana Offshore Oil Port (LOOP) is a deepwater port in the Gulf of Mexico 29 kilometers (18 nautical miles) [1] off the coast of Louisiana near the town of Port Fourchon. LOOP provides tanker offloading and temporary storage services for crude oil transported on some of the largest tankers in the world.
At the same time, a special session in the Louisiana Legislature that began Nov. 6 seeks to cut state taxes for oil refineries and petrochemical companies. Experts warn oil and gas can’t save ...
2005 - Assets in Louisiana from Shell Oil Company for $12 million [10] 2006 - Pacific Energy Partners for $2.4 billion [11] 2008 - Rainbow oil pipeline in Northern Alberta [12] 2012 - Canadian NGL business from BP [13] 2017 - Alpha Crude Connector gathering system and pipeline in the Permian Basin for $1.2 billion. [14]