Deepwater Exploration Remains Strong Despite Downturn

10 May 2017
The year 2015 saw a record 101 exploration wells spudded in deepwater (including deep water with water depth between1,000 and 5,000 feet and ultra-deep water with water depth greater than 5,000 feet) US Gulf of Mexico. That’s 21 more than in 2014, when the oil price collapse started (Figure 1.1). Deepwater exploration drilling dropped after the downturn, starting in 2016.