Long live the Third Coast: Technology, collaboration help the GoM defy expectations

摘要

Besides a fondness for the Mississippi River, Mark Twain and the offshore Gulf of Mexico (GoM) share something else in common: The reports of their deaths were greatly exaggerated. Discussions at last month's inaugural Hart Energy GoM Offshore Executive Conference clearly demonstrated that the U.S. GoM - from shelf to ultradeep - still has plenty of life left in it. For two of the conference participants - Fieldwood Energy and Energy XXI - success has been found on the shelf through acquisitions, technology and collaboration. Fieldwood Energy is the GoM's largest shelf operator. Never heard of it? The pure startup launched in early 2013 as a portfolio company of Riverstone Holdings. In the year since it has closed five transactions, with the largest two being the $3.75 billion acquisition of Apache Corp.'s GoM shelf business and a $750 million acquisition of SandRidge Energy's GoM and Gulf Coast business units.