The Rising Influence of Rising Affluence

[DewDiligence]

Regulators clear drilling resumption at GoM Shenzi field:

http://finance.yahoo.com/news/US-clears-more-deepwater-oil-apf-1644611204.html

This is the second GoM deepwater permit to be issued since the end of the moratorium.

Shenzi, which went into production in Mar 2009, was producing 120K boe/d when drilling was halted following the Deepwater Horizon accident. (This is a counter-example to the false assertions in the mainstream media that only exploratory and not production wells were halted during the moratorium.)

The ownership of Shenzi is: operator BHP 44% (53K boe/d net); HES 28% (34K boe/d net); and Repsol 28%.