Operators use technology to coax more oil

摘要

Houston—A “renaissance” is underway on theGulf of Mexico’s shallow-water ContinentalShelf as exploration and production compa-nies increasingly look to updated technologiesand sharper seismic data to eke out more oilfrom a traditionally natural gas province, twosmall independent operators said last week.Even though crude oil prices have droppedabout 20% in recent weeks, Shelf drilling isstill economic as technology costs have comedown, John Schiller, CEO of Energy XXI, saidin webcast remarks at Enercom’s annual Lon-don Oil & Gas Conference.