Occidental reports Gulf of America oil discovery at Bandit prospect

is that what they consider "sub salt?"

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To avoid the years-long process of building a new platform, the companies are evaluating "subsea tie-back" technology to link the find to existing infrastructure, according to Occidental. This strategy could bring the well into production in a year or less, potentially allowing royalties to begin flowing as early as 2027 to coastal communities in Louisiana and other Gulf Coast states.

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Under the Gulf of Mexico Energy Security Act (GOMESA) of 2006, Louisiana, Texas, Mississippi, and Alabama receive 37.5% of the federal royalties, bonus bids, and rentals generated from offshore energy production.

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Louisiana’s share hit a record $203.7 million for the 2025 fiscal year, a significant increase from the approximately $156 million received annually in previous years when the state’s share was limited by a federal revenue-sharing cap.

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Under the Louisiana Constitution, the state directs 80% of its share into the Coastal Protection and Restoration Trust Fund for large-scale infrastructure, while the remaining 20% distributed directly to the state’s 19 coastal parishes for local drainage and flood control projects. The new funding is seen by government officials in coastal communities as vital as disbursements of settlement money from the 2010 BP oil spill wind down and end in 2031-2032.

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Not an expert.

But, my understanding is that FPSOs are a bad option if you have a pipeline/hub anywhere near you.

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Louisiana, Texas, Mississippi, and Alabama receive 37.5% of the federal royalties

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I hope this isn’t distributed evenly.

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who's to say it requires the SO part? If there's a pipeline just add some shipping pumps and export compressors, and tie it in to the pipeline. I suspect this is a bad business model, as no one is doing it.

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But you’re still talking about maintaining and operating a vessel versus conventional platform. Coupled with cost of a pipeline it’s not financially feasible.
With the capability of subsea pumps increasing distance of tie backs to 30 miles now versus 15 a few years ago.
GOM has enough platforms that we won’t see many more new platforms.

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Louisiana’s share hit a record $203.7 million for the 2025 fiscal year,

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The Don.

Oxy has like14 platforms all over the gulf they will find something to tie it back to.

You don’t build a new floater for 100m bbls

I was on the rig sovereign explorer in the mid '80s in Green canyon about 4,000 ft of water. Saw a whale shark out there. The crew was from the North Sea. It was pretty awesome. First rig I had ever been on had an actual chef and a library. One of the worst rigs I had ever been on was a round leg jacked up for diamond shamrock. It was a pure rust bucket. Everyone walking around in ball caps smoking cigarettes, you could see somebody taking a shite from the dinner table. Eight guys to the room. Hard to get good sleep. The old days