A 21-year-old man died last month after a drilling accident at a Texas oil field. While authorities have not yet disclosed the results of an investigation into this incident, his death is another reminder of the heightened risks of catastrophic injuries or fatalities in the oil and gas industry.
Nevada-focused U.S. Oil & Gas announced to investors today that Nevada Bureau of Land Management has agreed to approve a permit allowing for the drilling of its first exploration well, Eblana #1, located on the firm's Hot Creek Valley property. Major Oil International, a wholly owned subsidiary of U.S. Oil & Gas, was awarded with the Application for the Permit to Drill (APD). The company plans to immediately begin preparing the drill site and will give an official spud date for the well in due course.
As the Deepwater Horizon drilling rig catastrophe investigation continues, it is becoming more and more apparent the companies who participated on this rig created an atmosphere that did not focus on safety. The presidential commission in charge of the investigation has uncovered an atmosphere of, at the very best, complacency for the safety rules and regulations, and at the very worst, an atmosphere of profits over safety. Further, at this initial investigation stage it appears that more than one company contributed to one of the greatest disasters of all time.