Some drillers are still pursuing deepwater Gulf, experts say

02/19/2013 | Wall Street Journal, The

Some energy firms are pursuing deepwater drilling in the Gulf of Mexico despite an energy boom fueled by shale oil and natural gas exploration, observers say. Chevron is allocating $7.5 billion to drill in the Jack and St. Malo fields in the Gulf's Lower Tertiary area. The site could comprise nearly 50% of production in the Gulf by next decade's end, said Steve Thurston, Chevron's vice president of deep-water exploration and projects.

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