Gulf of Mexico world’s hottest play, but challenges still loom

11/27/2006
The US Gulf of Mexico is the world’s hottest exploration and development play and the most important source of US oil and natural gas supply.Both superlatives are likely to be reaffirmed in the years to come. Factors in that outlook include recent tests confirming the producibility of giant reservoirs in the Lower Tertiary trend in the gulf’s deep water, the extension of royalty incentives for deepwater and deep-pay production, and the growing importance of the underexplored deep-shelf gas play.The resource target is huge, according to Chris Oynes, regional director, Gulf of Mexico region, US Minerals Management Service.“The 2006 resource estimate issued by MMS estimates...
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