Serious about Energy Security? Offshore Energy

By February 8, 2009Energy

The House Energy and Natural Resources Committee has scheduled three hearings this month on offshore energy development, starting this Wednesday.

Yesterday we posted about the importance of deep water energy development. We note also recent news about more shallow drilling in the Gulf. From Energy Current:

HOUSTON: The number of jackup drilling units under contract in the U.S. Gulf of Mexico has fallen to its lowest level since September 1976, according to the ODS-Petrodata Weekly Offshore Rig Count.

This week, 45 jackup drilling rigs are under contract in the U.S. Gulf, a net five-rig decline since last week, and a net 11-rig decline since the first of the year. The recent slide in oil and natural gas prices and the ongoing global financial crisis have both contributed to the U.S. jackup market’s weakest performance in over 30 years.

Jackup drills actually sit on the sea bottom and, unlike drilling barges, are elevated about the surface water.

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