Indicators on US Gulf Coast offshore rigs start to return after Ida - Reuters You Need To Know

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Considering that the Offshore Innovation Conference is happening, we have actually been going over offshore a fair bit this week, and I believed I would explore how offshore drilling works. Being geographically near the Gulf of Mexico (Go, M), I'm going focus my attention there. Our current analysis of top oil producing and leading gas producing counties included some big overseas areas.

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Just Recently The Lower Tertiary in the Go, M has actually been in the news with big prospective 15 billion barrels of oil. Compare that to EIA estimated 29 billion barrels in reserve onshore United States, and you have a terrific expedition chance. To Explore and Produce offshore you need a platform (usually described as a rig) from which to drill wells, extract product, and most of the times save the oil or gas until it can be carried to refineries or other destinations.

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Thanks, Terry!] Where to drill The Geology of the Go, M is mainly Jurassic and Cretaceous, when the basin motivated collection and evaporation of sea water, leaving behind build-ups of Salt and Plaster, which then domed and trapped plentiful hydrocarbons. Source: How are leases structured? The Submerged Lands Act (SLA) of 1953 grants individual States rights to the natural deposits of immersed lands from the coastline to no more than 3 nautical miles (5.

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The only exceptions are Texas and the west coast of Florida, where State jurisdiction extends from the coastline to no greater than 3 marine leagues (16. 2 km) into the Gulf of Mexico. Source: https://www. boem.gov/ Federal-Offshore-Lands/ State and federal ownership of the seabed: Source: https://en. wikipedia.org/wiki/File:Offshore, Ownership, Borders. jpg Beyond the state borders in the Go, M there are Offshore Protraction Areas that are additional partitioned into blocks that increase for quote from the federal government.