Deepwater Keeps Gulf Strong

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.

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 plcmore info


 - BP Makes Third Gas Discovery In Egypt's North Damietta Concession (Mar 26)
 - Unite Expresses Concern Over Possible Forties Pipeline System Sale (Mar 17)
 - BP Appoints New Heads Of Production, Drilling As Output Set To Jump (Mar 16)
 Company: Minerals Management Service (MMS)more info
 - Obama Names New Head of MMS (Jun 15)
 - Abbey Implements New Drilling Requirements (Jun 7)
 - MMS Chief Resigns (May 27)
 Company: Newfield Exploration Companymore info
 - $2 Billion Gulfport Buy Shows Drillers Thirsting for Next Play (Dec 15)
 - Newfield CEO Sees Cautious Approach on Big Oklahoma Oil Find (Oct 17)
 - E&P Companies Target Potential of STACK, SCOOP Plays (Aug 25)
 Company: Nexen, Inc.more info


 - UKCS Oil, Gas Extraction Drops 10% Y-o-Y (Dec 8)
 - CNOOC Cutbacks at Long Lake Oil Sands Site Caps Years of Trouble (Jul 14)
 - Sources: Nexen Issues Force Majeure for May Canadian Crude (May 12)
 Company: Anadarko Petroleummore info
 - Oil, Gas CEOs Optimistic about Future of E&P in North America (Mar 10)
 - Anadarko Expects Oil Sales Volumes To Rise 25% (Mar 7)
 - Anadarko and Freeport-McMoRan Cut Jobs in Texas (Feb 14)
 Company: Pioneer Natural Resourcesmore info
 - U.S. Shale Firms Go Back To Work Buoyed By OPEC Deal, Trump Victory (Nov 14)
 - Pioneer Natural Resources CEO Doubts OPEC Will Reach Output Deal (Nov 2)
 - Shale Oil Firms Hedge 2017 Prices in 'Droves' After OPEC Rally (Oct 3)
 Company: Chevron Corporationmore info
 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - China's Sinopec Buys First Major African Refinery In Chevron Deal (Mar 22)
 - Oil Giants Upending Shale Turf Where Wildcat Drillers Once Ruled (Mar 21)
 Company: Spinnaker Explorationmore 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)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Geoscientist / Engineer
Expertise: Environmental Engineer|Geoscientist
Location: Somerset, NJ
 
United States Houston: Petrophysicist
Expertise: Petroleum Engineering|Petrophysicist
Location: Houston, TX
 
Geologist / Environmental Engineer
Expertise: Environmental Engineer|Geologist
Location: Atlanta, GA
 
search for more jobs

Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
Natural Gas : $3.05/MMBtu 0.97%
Updated in last 24 hours