May 17, 2013 - ExxonMobil contracted FMC Technologies to supply subsea equipment for the Julia field in the US Gulf of Mexico. The decision to develop Julia was recently made by the US oil major and its partner Statoil. FMC will provide six subsea trees, a manifold with associated tie-in equipment for the deepwater field. Julia is located in the Walker Ridge area and boasts water depths of 7,000-feet. The partners expect to bring the field on-stream in 2016.

May 8, 2013 - ExxonMobil and its partner, Statoil, have agreed to proceed with development of the Julia oil field in the US Gulf of Mexico. Julia was discovered in 2007 and is estimated to hold almost 6 BBbbls of oil. The $4 billion project is expected to start producing in 2016. Phase 1 of the development will be designed to produce 34,000 bopd from 6 subsea wells tied back to the Jack/St. Malo production facility. A development drilling program is planned to be kicked-off in 2014 in waters ranging from 4,000 to 8,700 feet. ExxonMobil, the field operator, and Statoil each hold a 50% stake in the field.

May 8, 2013 - Royal Dutch Shell made its final investment decision on the Stones ultra-deepwater oil and gas development project in the US Gulf of Mexico. At 9,500 feet deep, Stones is expected to host the world's deepest production facility. Announcement of the decision sets in motion the construction of a floating, production, storage and offloading (FPSO) vessel along with all of the associated subsea infrastructure. Initially, two developments well will be tied back to the FPSO with six additional wells to follow at a later date. Peak production for the first phase is expected to peak at 50,000 boed. The Stones reservoir is estimated to hold more than 2 BBboe.

May 6, 2013 - A fifth development well has been spud on the Apache-operated Marathon gas and condensate field in the Atchafalaya Bay off the coast of Louisiana. Marathon-4 is being drilled by the Parker 76-B (inland barge) in 8 feet of water and is targeting the Marathon formation at roughly 18,700 feet total depth. It is estimated to take 4-months to drill, complete and tie-in the well to existing production facilities. The Marathon field is operated by Apache who maintains a 48.75% interest. Petsec Energy holds 8% while private investors make up the remaining 43.25%.

Apr 22, 2013 - BP is being forced to reconsider its position on the Mad Dog Phase 2 development in the U.S. Gulf of Mexico. Originally, construction was set to commence by the end of the year with first oil anticipated by the end of the decade, but the oil major feels current economics make the $10 billion project difficult to justify. The company still plans to move ahead with the Phase 2 development but it remains to be seen what form of development will receive final approval. The final investment decision will likely be delayed by approximately 12 months.