Description
With the passage of the Deepwater Royalty Relief Act and the development of technologies that allow for more cost-effective development beyond the continental shelf, leasing deeper than 1000 meters has proceeded at an unanticipated high rate. If predictions of ever larger reservoirs in deepwater prove true, then during the eight to ten year development period allowed on these deepwater leases the Gulf of Mexico will experience a profound change in the pattern of development.
