WATCHING WASHINGTON DRILLING REBOUND IN THE GULF?

With Patrick Crow Although some major operators are reducing their leasehold in the Gulf of Mexico, independents are as optimistic as ever. Speaking at a National Ocean Industries Association meeting last week, oilmen said the combination of rebounding natural gas prices, lease turnover, and better technology may spur a resurgence of drilling in the gulf. Joe Foster, chairman and CEO of Newfield Exploration Co., Houston, said a major restraint is that many operators want to see if higher gas

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