Unconventionals and Deepwater Can Co-Exist
“The deepwater basin just keeps on giving,” said Greg Guidry, executive vice president of Shell’s Upstream Americas, Unconventional. “Every time we are ready to write it off, something big happens and it renews itself.”
This mindset is why deepwater development will coexist during the shale phenomenon, Guidry said.
“Deepwater drilling is at a high level of utilization, and the number of new deepwater projects coming into the planning stage is set to accelerate over the next few years, as around 90 new drillships/semisubs are delivered,” Jim McCaul, president of International Maritime Associates, Inc., explained to Rigzone recently. “So I wouldn’t count this sector of the industry out; it just seems as if operators are wanting a financial return that can be obtained from each project, and in turn are cutting costs.”
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