Breitling Oil and Gas Morning Podcast #180 10-26-12

Looks like deep water drilling in the Gulf of Mexico is making a comeback!

Gulf production is expected to reach 2 million barrels of oil per day in2018.

Currently 46 operators work in the gulf in more than 1200 feet of water.

The gulf still represents one of the most attractive E&P regions worldwide despite changing US
drilling and environmental regulations that pose some uncertainties for oil and gas companies.

The moratorium and exodus of several mobile offshore drilling units from deepwater gulf in
2010 sharply hindered drilling activity through 2011, but it has rebounded very well in 2012.

It looks like more than $20 billion will be spent drilling development wells alone through 2015

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