VENTURE CAPITAL POST

Mexico kicked out foreign companies 77 years ago, but just last Wednesday the tables seem to turn as its government auctioned 14 exploration blocks to attract international energy companies, which will hopefully redeem the country's dwindling production.

Royal Dutch Shell will pay out 55 million pounds ($83.4 million) in compensation for two oil spills in Nigeria in 2008 after agreeing a settlement with the affected community.

BP will cut hundreds of jobs across its global oil and gas business by the end of next year in a $1 billion restructuring program announced on Wednesday following steep falls in oil prices.

EnLink Midstream (ENLK.N) (ENLC.N) said on Monday it had signed a $235 million deal with Chevron Corp (CVX.N) to buy natural gas pipelines in Southern Louisiana, including those linked to the Henry Hub supply point that sets U.S. futures prices.

Houston, US-based firm Fieldwood Energy LLC, a portfolio company of Riverstone Holdings LLC, bought the Gulf Coast unit of Oklahoma-based firm SandRidge Energy Inc in a deal valued at $750 million.

New Orleans-based offshore service vessels provider Tidewater Inc is investing USD30 million to start its subsea operations business, Tidewater Subsea, located in the Gulf of Mexico.

Petroleum company Devon Energy Corp. was nearing a deal to takeover Texas-based GeoSouthern Energy Corp. for USD6 billion. This would be Devon's second large transaction in less than a month.

Cobalt announced failure in Gulf of Mexico oil exploration site.

According to past reports, natural gas companies planned on expanding their operations in the Gulf region.

A natural gas well exploded in the Gulf of Mexico today.