Deepwater Gulf of Mexico still offers tremendous resource potential
Richard Clark, Senior Vice President and head of Kosmos Energy’s Gulf of Mexico business unit, discusses the state of the E&P market, drilling activities, and future field developments in the region.
As oil prices have recovered in recent years, offshore activity has ramped back up in several regions. But E&P activity in the US Gulf remains below pre-downturn levels.
Still, there is activity, and that activity is increasingly being driven by the independent and mid-sized operating companies. Many of these companies seized the opportunity offered by the downturn to enter the market through asset acquisitions, partnerships, joint ventures and mergers.
One key example of this trend was Kosmos Energy’s acquisition of Deep Gulf Energy, a deal that was completed in September 2018. The acquisition gave Kosmos Energy deepwater assets in the Gulf of Mexico, a region it had not previously operated in.