The US Gulf Of Mexico Oil Spill Disaster - Does It Herald A Decline In The US Offshore Oil And Gas Industry? by GlobalData

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									             The US Gulf Of Mexico Oil Spill Disaster - Does It Herald A
                 Decline In The US Offshore Oil And Gas Industry?
       Reference Code: GDGE0624VPT                                                                                                     Publication Date: MAY 2010



       1         Table of Contents                                                                2       Summary
       1   Table of Contents ...............................................................1     The Deepwater Horizon oil spill has raised several questions
         1.1   List of Tables ...............................................................1    about the future of offshore drilling in the US. The 5,000 barrels
         1.2   List of Figures..............................................................1     per day of oil spilling out from the well has caused serious
       2 Summary ............................................................................1    environmental and economic damage in the Gulf of Mexico. All
       3 The US Gulf Of Mexico Oil Spill Disaster – Does It Herald a
                                                                                                  the attempts to stop the leakage have failed and the spill is now
         Decline In The US Offshore Oil And Gas Industry? ...............1
         3.1   The US GOM Oil Spill: A Major Tragedy For The US                                   poised to become the largest oil spill in the history of the US oil
               Oil And Gas Industry ...................................................1          and gas industry. The spill has once again spurred a backlash
         3.2   The Spill Could Potentially Be The Biggest Oil Spill In                            against offshore drilling in the US. Consequently, the massive
               The History of the US ..................................................2          oil spill is expected to play a pivotal role in the formulation of the
         3.3   The Spill Will Have A Major Effect On The US Energy                                future oil and gas policies in the US, especially the offshore
               Policy and Regulations................................................3            drilling regulations. The spill will lead to stricter regulations
         3.4   The Spill Will Have a Huge Economic and
               Environmental Impact..................................................5            regarding the current drilling in the country and will also decide
         3.5   Huge Costs Involved in the Aftermath of the Oil Spill                              the fate of future offshore exploration activities, especially in
               will Weigh Down The Companies Involved .................5                          new areas such as the Outer Continental Gulf and Alaska.
         3.6   Effect Of The Oil Spill On Offshore Exploration and                                However the long term prospects for the exploration and
               Production in the US ...................................................5          production activity in the offshore regions are expected to be
       4 Appendix ............................................................................7   positive due to the potential in terms of oil and gas reserves.
         4.1   Methodology................................................................7
         4.2   Contact Us ..................................................................8     3       The US Gulf Of Mexico Oil Spill
         4.3   Disclaimer ...................................................................8
                                                                                                          Disaster – Does It Herald a Decline In
                                                                                                          The US Offshore Oil And Gas Industry?
       1.1      List of Tables                                                                    The Gulf of Mexico accounts for approximately one fourth of the
                                                                                                  US crude oil production, making it very attractive for E&P
       Table 1: The US, Major Historical Oil Spills, 2010 .....................3
                                                                                                  companies across the world. BP accounts for the highest
       Table 2: GOM, Major Planned Projects, 2010...........................6
                                                                                                  number of leases in the area and was working on lease
                                                                                                  G32306, located in Mississippi Canyon Block 252, when a
                                                                                                  blowout on the lease resulted in the sinking of the drilling rig
       1.2      List of Figures                                                                   Deepwater Horizon and a major oil spill. The accident is
       Figure 1: Projected Spread Of Oil Spill On May 7, 2010 ............2                       expected to have a significant impact on the environment and
       Figure 2: GOM Oil Spill, Share Price For Major Companies                                   subsequently on the offshore oil and gas regulations in the US.
                 Involved, April 19-May 10, 2010 ..................................5
       Figure 3: GlobalData Methodology.............................................7             3.1    The US GOM Oil Spill: A Major Tragedy For
                                                                                                         The US Oil And Gas Industry
                                                                                                  On April 20, 2010, approximately 50 miles off Louisiana,
                                                                                                  Transocean’s semi submersible drilling rig, Deepwater Horizon,
                                                                                                  was rocked by a blowout when it was working on BP’s lease
                                                                                                  G32306 located in Mississippi Canyon Block 252, resulting in
                            
								
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