Deepwater drilling steady over past 4 years

Despite the amount of capital spent on new drilling vessels from 1997 to 1999, deepwater activity in the Gulf of Mexico (GOM) has remained steady at 91 to 94 wells a year. On location for Vastar Resources Inc. in the Gulf of Mexico, Diamond Offshore Inc.'s Ocean Victory is one of three Victory-class vessels upgraded by the company to work in 5,000 ft of water. By the end of 2001, shipyards will have built or refurbished 29 deepwater vessels for the Gulf of Mexico. Photo courtesy of Diamond. Click here to enlarge imageThis year also appears on track with 72 deepwater wells drilled to date and 6 deepwater drillships and 19 semisubmersibles actively drilling (Tables 1 and 2, Fig. 1). Of...

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