A.D. Koen Gulf Coast News Editor A recent string of major deepwater discoveries has buoyed prospects for finding more giant oil and gas fields in the Gulf of Mexico. At midyear 1991, operators disclosed details of three deepwater gulf strikes with combined reserves potential approaching 1 billion bbl of oil equivalent (BOE). Exxon Corp. last week disclosed a fourth possible giant field discovery in the deepwater Gulf of Mexico (see story, p. 19). While exciting from an exploration standpoint, however, huge upfront development costs and a dearth of rigs capable of drilling in deep water are crimping a significant expansion of ...

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