Our The Luxurious Afterlives of Abandoned Sea Forts and Oil Rigs Ideas

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Since the Offshore Technology Conference is happening, we have actually been talking about overseas rather a bit today, and I believed I would check out how overseas drilling works. Being geographically near the Gulf of Mexico (Go, M), I'm going focus my attention there. Our current analysis of leading oil producing and leading gas producing counties included some huge overseas areas.

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Recently The Lower Tertiary in the Go, M has actually remained in the news with substantial possible 15 billion barrels of oil. Compare that to EIA estimated 29 billion barrels in reserve onshore US, and you have an excellent expedition chance. To Explore and Produce offshore you need a platform (generally described as a rig) from which to drill wells, extract product, and in the majority of cases store the oil or gas up until it can be carried to refineries or other destinations.

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Thanks, Terry!] Where to drill The Geology of the Go, M is largely Jurassic and Cretaceous, when the basin motivated collection and evaporation of sea water, leaving build-ups of Salt and Gypsum, which then domed and caught abundant hydrocarbons. Source:  How are leases structured?  Key Reference  Submerged Lands Act (SLA) of 1953 grants individual States rights to the natural resources of immersed lands from the coastline to no greater than 3 nautical miles (5.

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The only exceptions are Texas and the west coast of Florida, where State jurisdiction extends from the coastline to no more than 3 marine leagues (16. 2 km) into the Gulf of Mexico. Source: https://www. boem.gov/ Federal-Offshore-Lands/ State and federal ownership of the seabed: Source: https://en. wikipedia.org/wiki/File:Offshore, Ownership, Boundaries. jpg Beyond the state limits in the Go, M there are Offshore Reach Areas that are additional partitioned into blocks that go up for bid from the federal government.