Insight
US Gulf of Mexico: 2022 in review
Report summary
The US Gulf of Mexico was able to grow investments and production in 2022 despite major project delays. Five projects reached FID in 2022 with a total capital commitment of US$4.5 billion. High oil prices led to record cash flows despite moderate production growth and high inflation. M&A also experienced a boost as the deal count more than doubled and a new player entered the US GoM. An industry-first, 8th-generation, and 20,000 psi-rated rigs commenced operations. Discovered volumes were at an all-time low, but policy changes reinstated leasing activity.
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