Take a Look at Me Now - Gulf of Mexico Crude Output Is Approaching 2 MMb/d
It may be easy to forget in these days of Permian this and Permian that, but crude oil production in the offshore Gulf of Mexico (GOM) set a number of new, all-time records in the past couple of years. Better yet, with a handful of key producers in the Gulf planning low-cost, subsea tiebacks to existing platforms — and still discovering more oil — it’s a good bet that offshore production will continue its upward trajectory into the early 2020s. And, unlike U.S. shale wells, whose production peaks early then trails off, wells in the GOM typically maintain high levels of production for years and years. Where do offshore production and drilling activity stand in the Shale Era, and where are they headed? Today, we review recent production gains in the Gulf and examine why the GOM remains the oil sector’s Energizer Bunny.