The Gulf of Mexico (GOM) may account for less than one-fifth of U.S. oil production but it’s a region that’s more than holding its own. Drillers plan to expand production, using advanced technologies to tap untouched reserves in deeper waters. Still, Gulf Coast output has always been at risk from severe storms, just like the onshore outlets and infrastructure on which producers depend. In today’s RBN blog, we’ll discuss highlights from our new Drill Down Report on the developments in the Gulf.
As most in the industry know well, GOM production has been around much longer than the tight-oil plays that drive most of today’s growth. Since the 1980s, Gulf production (blue bars in Figure 1 below) has nearly tripled to almost 2 MMb/d but its share of U.S. oil production (blue line and right axis) has shrunk to 14%, about half of what it was in the early 2000s. In contrast, tight-oil production (aka shale; orange bars) now accounts for roughly two-thirds of total U.S. production (green bars), which set an annual record last year at nearly 13 MMb/d. The extraordinary growth in tight-oil supply continues to overshadow contributions from the Gulf, or any other domestic source.
Figure 1. U.S. Crude Oil Production, 2010-23. Source: EIA
So, why is Gulf oil production comparatively limited? After all, there are still billions of barrels in recoverable oil reserves in the GOM, with more to be discovered. Section 2 of our new report details the many hurdles behind exploring the region. A major factor is the challenging offshore environment, which requires sophisticated equipment to operate at extreme depths and pressures, adding to overall costs. These are complicated, pricey projects compared with shale-related ventures, especially since significant costs are incurred before any offshore oil is produced or sold.
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About the song
“Brave” was written by Sara Bareilles and Jack Antonoff. It appears as the first song on Sara Bareilles’ fourth studio album, The Blessed Unrest. Released as a single in April 2013, it went to #2 on the Billboard Adult Contemporary and #23 on the Billboard Hot 100 Singles charts. It has been certified 3x Platinum by the Recording Industry Association of America. Personnel on the record were: Sara Bareilles (vocals, keyboards), Jason Blynn, Graham Finn, Rich Hinman, Michael Ward (guitar), Kurt Venala, Curt Schneider, Chris Morrissey (bass), Aaron Sterling, Sarab Singh (drums, percussion), Mark Endent, Brian Kornfeld (programming), Mary-Katherine Finch, Csaba Koczo, Lyn Kuo, Cameron Stone, Yosef Tamir (strings), Kevin Turcotte, Brian O'Kane, Dave Guy, Cochemea Gastelum (horns), Stacey Proffitt (backing vocals), and Todor Kobakov (conductor, string and horn arrangements).
The Blessed Unrest was recorded during 2013 at Electric Lady in New York City and unnamed studios in Los Angeles. Produced by Sara Bareilles, Mark Endert, John O'Mahony and Kurt Venala, the album was released in July 2013. It went to #2 on the Billboard 200 Albums chart and has been certified Gold by the RIAA. Two singles were released from the LP.
Sara Bareilles is an American singer, songwriter, musician and actress. After graduating from UCLA in 2002, she began performing her songs in Los Angeles bars and clubs. She signed with Epic Records in 2005. She has released seven studio albums, three live albums, five EPs, and 11 singles. She has appeared in three motion pictures, 15 television shows, and six stage productions. She has won an ASCAP Pop Music Award and two Grammy Awards. Her last release was the album Amidst the Chaos, released in 2019. She still performs occasional live shows.
