Deepwater GOM discoveries to increase ///

In 2008, deepwater GOM exploration results suffered a decline for the second consecutive year. Reserves of only 360 MMboe were found, the lowest annual amount in a decade and far below the annual average of over 1 Bboe per year. Furthermore, the number of exploration wells drilled fell for the second year in a row. While success rates at 45% remained high, the discovery rate per well fell to just 12 MMboe—half the 10-yr average. Contributing to the low discovery rate was the high proportion of small discoveries.

Log in to view this article.

Not yet a subscriber?  Find out more and subscribe today! 

Already a subscriber but don’t have an online account? Contact our customer service.



*Access will be granted the next business day.