The Gulf Is The Fastest Growing Off-Shore Market In The World -- Bloomberg

Bloomberg is reporting:

The deep-water Gulf of Mexico, shut down after BP Plc’s record oil spill in 2010, has rebounded to become the fastest growing offshore market in the world. 

The number of rigs operating in waters deeper than 1,000 feet (300 meters) in the U.S. Gulf will grow to 60 by the end of 2015, ... As of last week, there were 36 rigs working in those waters ...

Companies such as Chevron Corp and Anadarko Petroleum Corp must do more drilling to turn large discoveries into producing wells -- as many as 20 wells for each find. [Compare that to the Bakken.]

“Right now, the Gulf is the fastest growing deep-water region in the world.”

Contrary to all I said one or two years ago. Good for the oil and gas industry.