Minerals Management Service Stops Issuing Permits for Gulf Drilling

The energy sector is under some pressure on reports that the Minerals Management Service [MMS] has stopped issuing permits for new oil and gas drilling in the Gulf of Mexico.

According to the WaPo, Michael J. Saucier, regional supervisor of field operations for the MMS Gulf of Mexico region, said in an e-mail to one company seeking a permit that “until further notice we have been informed not to approve or allow any drilling not matter the water depth.”

This news, as expected, is causing some weakness on the following stocks which are associated with water drilling-exploration:

  • Rowan Companies Inc. (RDC) : $22.77 Down $1.91 (7.74%) 2:18PM EDT
  • Helmerich & Payne Inc. (HP) : $39.48 Up $1.39 (3.65%) 2:17PM EDT
  • McMoRan Exploration Co. (MMR) : $10.06 Down $0.59 (5.54%) 2:18PM EDT
  • Patterson-UTI Energy Inc. (PTEN) : $13.97 Up $0.12 (0.87%) 2:19PM EDT
  • Anadarko Petroleum Corporation (APC) : $44.98 Up $0.62 (1.40%) 2:19PM EDT
  • Halliburton Company (HAL) : $23.20 Down $0.48 (2.03%) 2:17PM EDT


Interior Dept. now denies it has extended drilling freeze to shallow gulf waters

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