Federal regulators Wednesday signed off on a deepwater drilling permit for a new Gulf of Mexico well described in an exploration plan approved last week for Shell Offshore Inc.

Shell complied with new safety standards implemented in the wake of the Deepwater Horizon explosion and resulting oil spill, including satisfying the requirement to demonstrate the capacity to contain a subsea blowout. Shell was permitted to drill a new well in 2,721 ft. water depth, approximately 137 miles off the Louisiana coastline, south of Lafayette.  

“Today’s permit approval represents a culmination of a broad and comprehensive review process involving an exploration plan, a site-specific environmental assessment, and the application for the drilling permit — all of which complied with our rigorous safety and environmental standards,” said Bureau of Ocean Energy Management, Regulation and Enforcement Director Michael R. Bromwich. “The completion of this process further demonstrates that we are proceeding as quickly as our resources allow to properly regulate offshore oil and gas operations in the most safe and environmentally responsible manner.”

Shell’s permit was issued just as President Barack Obama endorsed for the first time a plan to subsidize the purchase of trucks and fleets that run on domestically produced natural gas. Obama on Wednesday outlined a plan to reduce the country’s dependence on foreign oil, saying his goal is to cut U.S. oil imports by a third by 2025. Read more here.

Read BOEMRE’s press release on the Shell permit here.

To post a comment, please log into your IND account. If you do not have an account, click the "register" button to create one. Facebook comments can be used as an alternative to creating an account at theIND.com.

ABiz Stock Watch
o Home Bancorp 22.70 ▼0.06 (-0.26%)
o Frank's International 17.27 ▲0.19 (1.11%)
o IberiaBank Corp 63.95 ▲1.13 (1.80%)
o LHC Group 23.76 ▲0.01 (0.06%)
o MidSouth Bancorp 19.03 ▲0.03 (0.16%)
o Petroquest Energy 4.32 ▲0.06 (1.41%)
o PHI Inc. 39.60 ▲0.44 (1.12%)
o Superior Energy 25.31 ▲0.50 (2.02%)
o Stone Energy 26.06 ▲0.61 (2.40%)
o Facebook Inc. 78.56 ▲1.61 (2.09%)
o Twitter Inc. 51.40 ▲0.69 (1.37%)
o Gannett 30.36 ▲1.28 (4.40%)

Home Bancorp

Company ID [NYSE:HBCP] Last trade:22.70 Trade time:2:16PM EDT Value change:▼0.06 (-0.26%)

Frank's International

Company ID [NYSE:FI] Last trade:17.27 Trade time:2:25PM EDT Value change:▲0.19 (1.11%)

IberiaBank Corp

Company ID [NYSE:IBKC] Last trade:63.95 Trade time:2:25PM EDT Value change:▲1.13 (1.80%)

LHC Group

Company ID [NYSE:LHCG] Last trade:23.76 Trade time:2:22PM EDT Value change:▲0.01 (0.06%)

MidSouth Bancorp

Company ID [NYSE:MSL] Last trade:19.03 Trade time:2:20PM EDT Value change:▲0.03 (0.16%)

Petroquest Energy

Company ID [NYSE:PQ] Last trade:4.32 Trade time:2:23PM EDT Value change:▲0.06 (1.41%)

PHI Inc.

Company ID [NYSE:PHII] Last trade:39.60 Trade time:10:13AM EDT Value change:▲0.44 (1.12%)

Superior Energy

Company ID [NYSE:SPN] Last trade:25.31 Trade time:2:25PM EDT Value change:▲0.50 (2.02%)

Stone Energy

Company ID [NYSE:SGY] Last trade:26.06 Trade time:2:25PM EDT Value change:▲0.61 (2.40%)

Facebook Inc.

Company ID [NYSE:FB] Last trade:78.56 Trade time:2:25PM EDT Value change:▲1.61 (2.09%)

Twitter Inc.

Company ID [NYSE:TWTR] Last trade:51.40 Trade time:2:25PM EDT Value change:▲0.69 (1.37%)


Company ID [NYSE:GCI] Last trade:30.36 Trade time:2:25PM EDT Value change:▲1.28 (4.40%)

Economic Indicators

  • Real Estate Data
    Real Estate
  • Energy Data
  • Taxable Sales
  • Unemployment Rate

Read the Flipping Paper!

Click Here for the Entire Print Version of