US Driller Seeks Court to Block Demands for $250M Decom Collateral

OGV Energy Newsbytes
17/12/2024 11 min
US Driller Seeks Court to Block Demands for $250M Decom Collateral

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Episode Synopsis

W&T Offshore, an independent driller operating in the U.S. Gulf of Mexico, has asked a federal judge to block insurance companies’ demands for $250 million in additional collateral for taking apart old oil infrastructure.The offshore drilling industry faces mounting pressure to provide bonds for decommissioning oil and gas infrastructure in federal waters. The Federal Bureau of Ocean Energy Management (BOEM) in June enforced a final...Read the full article >here<

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