Deepwater development in the Gulf of Mexico continues to be the driving force in Gulf production and potential growth. The Minerals Management Service (MMS) announced today that there were 10 new deepwater (greater than 1,000 feet of water) oil and gas discoveries reported by operators and lessees in the Gulf of Mexico in 2005.

"The discoveries are encouraging," said Chris Oynes, MMS's Gulf of Mexico Regional Director. "Last year continued to be a strong year for deepwater activity in the Gulf of Mexico. There is intense interest in oil and gas potential in the deepwater. The Gulf of Mexico continues to represent the major domestic energy source for the United States."

"The Big Foot and Knotty Head discoveries confirm the extensive middle-to-low Miocene play within the Mississippi fan foldbelt area," noted Oynes. "And the new Stones discovery by BP adds to the discoveries in the lower Wilcox Paleogene play."

Another indicator of deepwater activity is the recent rig count. In mid-March, there were 42 rigs drilling or working on development wells in deepwater, including ten rigs drilling in 5,000 feet of water or greater – the ultra-deepwater zone. One year ago, 6 drilling rigs were in ultra-deepwater.

The announced deepwater discoveries in 2005 demonstrate that active exploration in the deepwater Gulf of Mexico will continue to help America meet its energy needs.

The ten discoveries are those that have been publicly announced individually by the companies or their partners.

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Related Companies

Prospect	Operator	Area	Water Depth (ft)
Stones	BP	Walker Ridge 508	9,576
Jubilee Extension	Anadarko	Lloyd Ridge 309	8,774
Mondo NW Extension	Anadarko	Lloyd Ridge 001	8,340
Q	Spinnaker	Mississippi Canyon 961	7,925
Big Foot	Chevron	Walker Ridge 29	5,286
Genghis Khan	Anadarko	Green Canyon 652	4,300
Wrigley	Newfield	Mississippi Canyon 506	3,700
Knotty Head	Chevron/Unocal	Green Canyon 512	3,557
Clipper	Pioneer	Green Canyon 299	2,452
Anduin	Nexen	Mississippi Canyon 755	2,400

Company: BP plc	more info
Operates 27 Offshore Rigs  - Statoil Seeks to Sustain Production on NCS in Years Ahead (Nov 20)  - North Slope Worker Dies During Pipeline Inspection (Nov 20)  - Maxim Barsky to Take Reins as Next TNK-BP CEO (Nov 19)

Company: Minerals Management Service (MMS)	more info
- MMS Disburses $10.68 Billion in FY 2009 (Nov 18)  - MMS Issues Final Offshore Activity Update Following Gulf Storm (Nov 13)  - Central GOM Sale to Offer 36MM Acres for Oil, Gas Devt (Nov 13)

Company: Newfield Exploration Company	more info
Operates 2 Offshore Rigs  - Newfield Exploration Reports 3Q Financial, Operating Results (Oct 21)  - Newfield, Hess Team Up to Explore Marcellus Shale Play (Oct 14)  - Verenex Deal Collapse Has China Parallel (Sep 9)

Company: Nexen, Inc.	more info
Operates 5 Offshore Rigs  - Eni Fires Up Gas Production at GOM's Longhorn (Nov 2)  - Nexen's Current Production at Annual High Following Start-Ups (Oct 28)  - ENSCO 8501 Spins Bit in Ultra-Deepwater GOM (Oct 16)

Company: Anadarko Petroleum	more info
- Pickens Increases Holdings in Natural Gas Producers (Nov 18)  - Independence Hub Ramps Back Up to Pre-Shut Levels (Nov 13)  - Anadarko: Permit Process May Delay Investment in Colorado (Nov 10)

Company: Pioneer Natural Resources	more info
- Pioneer Prices Offering of $450MM of Senior Notes (Nov 10)  - Pioneer Back to Work on Offshore Cosmopolitan Prospect (Oct 28)  - Pioneer Pleased with Eagle Ford Shale Well's Initial Rate (Oct 26)

Company: Chevron Corporation	more info
- Some OPEC Nations Charge Ahead Despite Slow Oil Demand (Nov 18)  - Chevron Drops Plans for Inlet Exploration (Nov 18)  - Chevron Selects Saipem for Gorgon Marine Structures Project (Nov 13)

Company: Spinnaker Exploration	more info
- Deepwater Keeps Gulf Strong (Mar 21)  - Western Gulf of Mexico Sale 196 Nets $283,441,874 in High Bids (Jan 6)  - Norsk Hydro Strengthens Upstream Focus (Dec 15)