Exxon Mobil Wins U.S. Permit to Drill in Deep-Water Gulf
Exxon Mobil Corp. (XOM) won a U.S. deep- water drilling permit for the Gulf of Mexico, becoming the fourth company cleared to work in the largest source of domestic crude after BP Plc’s oil spill last year.
Exxon, based in Irving, Texas, will drill in a Keathley Canyon Block in 6,941 feet (2,116 meters) of water, about 240 miles off the Louisiana coast, the Bureau of Ocean Energy Management, Regulation and Enforcement said today in an e-mailed statement.
“We will continue to review and approve applications that demonstrate the ability to operate safely in deep water,” Michael Bromwich, bureau director, said in the statement.
Noble Energy Inc. (NBL), BHP Billiton Ltd. (BHP) and ATP Oil & Gas Corp. have received U.S. permits to resume work halted after BP’s April 20 spill. While Exxon’s well is new, the company had a rig on site and a permit to drill when BP’s Macondo well exploded. Exxon had to suspend operations following the disaster, according to the regulator.
Exxon fell 28 cents to $82.56 in New York Stock Exchange composite trading.
Exxon is the world’s second-largest operator of deep-water oil wells. Petroleo Brasileiro SA (PETR4), Brazil’s state-controlled oil company, is the biggest.
A.P. Moeller-Maersk A/S’s Maersk Developer rig is standing by, ready to drill the well, Patrick McGinn, an Exxon spokesman, said in an e-mailed statement.
To contact the reporter on this story: Katarzyna Klimasinska in Washington at kklimasinska@bloomberg.net
To contact the editor responsible for this story: Steve Geimann at sgeimann@bloomberg.net
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