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The AAPG/Datapages Combined Publications Database

GCAGS Transactions

Abstract


GeoGulf Transactions
Vol. 70 (2020), No. 1., Pages 279-280

Extended Abstract: The Trend to Near Field Exploration in the U.S. Gulf of Mexico and its Stranded Asset Implication

Tim Richardson

Abstract

With some notable exceptions (e.g., Desoto Canyon) exploration blocks still held today after two price collapses cluster around producing oil and gas fields, illustrating that near field exploration has been favored since the price collapse of 2014. Relinquished blocks tend to be in open acreage. It is notable that light grey areas (Fig. 1) were released during a $100 price regime and dark grey areas were licensed during the $100 price regime, then released after the 2014 collapse, indicating that at today’s $40 oil prices greenfield deepwater Gulf of Mexico hydrocarbons likely represent the sort of stranded assets around the globe created by today’s lower oil price.


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