US Offshore Oil Industry in the Aftermath of the Gulf of Mexico Oil Spill

Introduction

The US offshore industry has been significantly impacted as a result of the disastrous oil spill, which has become the worst oil spill of the century. With expected liabilities of more than $50 billion, the oil spill may change the US offshore industry as a whole. The spill has been catastrophic, to the extent that the US government has been forced to announce and impose tougher regulations and policies for US offshore deep water drilling and field services. The government has even imposed a moratorium on drilling until November 2010 to study the causes and the extent of the damage in the Gulf of Mexico. This has led to uncertainty in the US offshore industry related to the risks and costs required for deepwater drilling once the stricter regulations are in place. In addition, the moratorium will hamper production in the Gulf of Mexico as well as other areas. The US offshore industry, primarily in the Gulf of Mexico, is one of the most lucrative areas for oil. However, the oil spill will bring about changes in the drilling costs and the rate of production and development, as well as in future investments by the oil and gas players.

Scope

- Analyses the impact of the GOM Oil Spill on the US Offshore Policy and Regulations
- Analyses the imact of the oil spill on the US offshore industry
- Analyses the impact of the oil spill on the Global oil and gas industry
- Analyses the cost pressures and disadvantages on the US offshore industry as a result of the oil spill
- Analyses how the cost disadvantages can lead to reduced drilling and consolidations in the US offshore industry

Highlights

Reasons to buy

- Understand the impact of oil and gas Offshore regulations on the US oil and gas industry as a result of the Oil Spill.
- Understand the repercussions of the oil spill on the US offshore industry
- Gain understanding of the impact of the new stricter offshore policies and regulations which the regulators plan to implement
- Gain understanding of the impact of stricter US oil and gas Offshore policy on oil and gas and drilling companies

Report Highlights

[Studien Infos ausblenden]

TABLE OF CONTENTS

1 Table of Contents 1
1.1 List of Figures 1
2 Summary 1
3 US Offshore Oil Industry in the Aftermath of the Gulf of Mexico Oil Spill 1
3.1 The Offshore Oil Industry in the US has been Severely Impacted due to Ineffective Safety Procedures Leading to an Oil Spill 2
3.2 The US was Aiming at a New Successful Offshore Development Strategy… but the Oil Spill Occurred 2
3.3 The Global Oil Industry is also Facing the Repercussions of the Gulf of Mexico Disaster 3
3.4 Gulf of Mexico Oil Spill Leading to Stiffer Policy and Technical Standards, Which Will have an Impact on the Offshore Drilling Business In The US 3
3.4.1 The US Government Announced New Tax Laws on Oil Spills 4
3.5 The Offshore Drillers will Face Increased Cost Disadvantages as an Outcome of the Stringent Laws and Regulations 4
3.6 How this has led to a Slowdown in Drilling 6
3.7 As a result, the Oil Spill can result in Increased M&A’s in the Gulf of Mexico 7
3.8 But the Offshore Explorers have to be Proactive to avoid Another Gulf of Mexico Oil Spill in the Future 7
4 Appendix 8
4.1 Methodology 8
4.1.1 Coverage 8
4.1.2 Secondary Research 8
4.1.3 Primary Research 9
4.1.4 Expert Panel Validation 9
4.2 Contact Us 9
4.3 Disclaimer 9
[Inhaltsverzeichnis ausblenden]

LIST OF FIGURES

1.1 List of Figures
Figure 1: Global Oil Production, Thousand Barrels Per Day, March-April, 2010 3
Figure 2: Offshore Drilling Expenditure, by Water Depth, North America, $bn, 2005–2009 4
Figure 3: US, Gulf of Mexico, Oil Reserves, Million Barrels, 2005-2008 4
Figure 4: US, Gulf of Mexico, Drilling Investments, $bn, 2005-09 5
Figure 5: Offshore Drilling Expenditure, US, $bn, 2005-09 5
Figure 6: North America, Offshore Drilling Expenditure Split, 2009 6
Figure 7: Offshore Wells Drilled, US, 2005–2010 6
Figure 8: US, Gulf of Mexico, Oil Production Forecast in Million Barrels per Day, 2010–2011 6
Figure 9: US, Oil Consumption Forecast in Thousand Barrels per Day, 2010–2015 8
[Tabellenverzeichnis ausblenden]