Energy

From Big Foot to Bluto, Gulf of Mexico set for record oil supply surge

CORPUS CHRISTI, Texas (Reuters) – The Gulf of Mexico, stung by the worst offshore oil spill in U.S. history in 2010 and then overshadowed by the onshore fracking boom, is on the verge of its biggest supply surge ever, adding to the American oil renaissance.

Over the next three years, the Gulf is poised to deliver a slug of more than 700,000 barrels per day of new crude, reversing a decline in production and potentially rivaling shale hot spots like Texas\’s Eagle Ford formation in terms of growth.

The revival began this summer, when Royal Dutch Shell\’s 100,000 barrels per day Olympus platform was towed out to sea 130 miles south of New Orleans – the first of seven new ultra-modern systems starting up through 2016. It weighs 120,000 tons, more than 200 Boeing 777 jumbo jets.

via Analysis: From Big Foot to Bluto, Gulf of Mexico set for record oil supply surge – Courant.com.

Categories: Energy, Transportation

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