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

Proved Reserves
Proved and Unproved Reserves + Resources + Industry-Announced
Discoveries
16,000
14,000
Million Barrels of Oil Equivalent
12,000
10,000
8,000
6,000
4,000
2,000
8,622
4,015 4,385
12,781
6,702
15,573
0
2000 2002 2004
Year of Report
Figure 79. Comparison of 2000, 2002, and 2004 deepwater GOM reports: successive increases
in deepwater BOE.
The deepwater arena has made great strides in the last few years, establishing itself as an expanding
frontier. The previous edition of this report (Baud et al., 2002) documented the advancements made in
deepwater exploration and development since 1974. Several notable changes have occurred in the
deepwater GOM since the last report.
• The deepwater frontier is now in water depths greater than 7,000 ft (2,134 m).
• The first exploratory well was drilled in over 10,000-ft (3,048-m) water depth.
• The first deepwater well was drilled below 30,000-ft (9,144-m) depth (true vertical
depth).
• Eleven discoveries were found in over 7,000-ft (2,134-m) water depths.
• The deepest production increased from approximately 5,300-ft (1,615-m) water depth
(Mensa) to over 7,000-ft (2,134-m) water depth (Camden Hills).
• The first deepwater discoveries in the Eastern GOM were found.
• There were significant new discoveries in both Walker Ridge and Alaminos Canyon in
older, lightly tested Paleogene reservoirs.
• Industry has made great technological achievements (e.g., polyester mooring, composite
riser, cell spars, and 15,000-psi subsea trees).
• Loop currents have been recognized as posing significant design challenges for
deepwater structures, rigs, and pipelines.
• The average number of operating rigs is down 29 percent and the number of wells drilled
is down 37 percent.
• Average bid amounts per block have stabilized or decreased slightly.
• There was a 51 percent increase in the number of producing deepwater projects.
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