Following a record year for production, deepwater drilling may be bound for another round of investment. All the oil and gas exploration financed in the decade of high prices that culminated in 2009’s $100 per barrel prices, has come into production or is soon to come online. From here, without further investment, the major oil companies will be looking at declining output. These big companies, the household names such as Exxon and BP, play the long game when it comes to oil production. They are, for all intents and purposes, the only players in deepwater drilling and must commit to investment soon if they want to avoid production declines. Oil prices have now been above sixty dollars a barrel for over a full quarter. Not only are prices higher but deepwater drillers have slimmed down production, looking at lean and efficient plays rather than focusing on volume. Whereas the […]