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