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Deepwater Gulf of Mexico 2004: America's Expanding ... - OCS BBS

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2,500<br />

Number <strong>of</strong> leases<br />

Average U.S. oil price<br />

Average U.S. natural gas price (wellhead)<br />

30<br />

2,000<br />

1,500<br />

1,000<br />

539<br />

500<br />

223<br />

332<br />

863<br />

405<br />

102<br />

395<br />

2,075<br />

1,002<br />

696<br />

25<br />

20<br />

15<br />

773 10<br />

5<br />

Number <strong>of</strong> Leases<br />

Auger leased (1985)<br />

1st Auger well (1987)<br />

1st Auger production (1994) .<br />

Typhoon leased (1995)<br />

1st Typhoon production (2001) .<br />

Thunder Horse leased (1988)<br />

1st Typhoon well (1998)<br />

1st Thunder Horse well (1999) .<br />

Dollars per Bbl and Dollars per Mcf (U.S. wellhead)<br />

30<br />

32<br />

4 11<br />

0<br />

0<br />

1974-75 1976-77 1978-79 1980-81 1982-83 1984-85 1986-87 1988-89 1990-91 1992-93 1994-95 1996-97 1998-99 2000-01 2002-03<br />

Year Lease Sale<br />

Figure 72. <strong>Deepwater</strong> lease activity and oil/natural gas prices (prices from U.S. Energy Information Administration: oil through<br />

September 2003 and natural gas through July 2003).<br />

103

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