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US Gulf of Mexico Production Projected To Hit Record High

Source: Shell.
Shell currently operates seven major deepwater and ultradeepwater floating platforms in the US Gulf of Mexico, including Mars B (pictured) in the Mississippi Canyon area. The company’s recent Whale discovery may help boost GOM production in the coming years.

The deepwater US Gulf of Mexico (GOM) sector has struggled since the onset of the oil price downturn in 2014, but as costs settle and operators establish new standards for running efficient projects, this year may be a significant turning point for the industry in the region.

In January, Wood Mackenzie published a report predicting that production of oil and gas in the deepwater GOM will reach an all-time record high this year, with more than 1.9 million BOPD, surpassing the previous record set in 2009 by nearly 10% and representing 13% growth year over year.

William Turner, Wood ­Mackenzie’s senior research analyst and lead author of the report, Deepwater GoM: 5 Things to Look for in 2018, said that, more than 2 months into the calendar year, the level of activity in the region is still on track to meet expectations. However, recent developments may have an effect on that trajectory.

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US Gulf of Mexico Production Projected To Hit Record High

Stephen Whitfield, Senior Staff Writer

01 April 2018

Volume: 70 | Issue: 4

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