The Dawn Of A New Era In Deepwater Drilling – MENAFN.COM

The Dawn Of A New Era In Deepwater Drilling – MENAFN.COM

A new era in deepwater drilling is about to begin. With the sanctioning of the Anchor project super-major operator, Chevron (NYSE: CVX), signaled that it was ready to risk billions tapping the ultra-high pressure, Lower Wilcox Tertiary play, some 35, 000 feet below the mudline. At least two other projects are in advanced FID status with several more under review. In this article we will look at some of the key players in this"final frontier" for the Gulf of Mexico, and why they are gearing up to exploit this remote reservoir. We will also look at one we feel is particularly poised to reap the bulk of this activity and the profits that will come from it. One of the biggest deepwater drillers, Transocean, (NYSE:RIG) notes in an investor packet that in the next few years a number of opportunities could be spun from the success of the Anchor (sanctioned) project and the North Platte and Shenandoah projects (nearing sanction). RIG sees a healthy candidate pool for its unique 20K psi BOP drillships, the Deepwater Atlas and the Deepwater Titan. These are the only two rigs with this rating, and probably the only two of these billion-dollar babies that will