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OIL - Oil Production Keeps Rising In The U.S. Gulf Of Mexico
iPath Series B S&P GSCI Crude Oil
The Permian Basin typically dominates headlines about U.S. oil production. But offshore production is more quietly getting a boost.
Shell Midstream Partners, L.P. (SHLX) announced first oil was produced by the Appomattox floating production system in the Gulf of Mexico on May 23, 2019. The Appomattox system started producing months ahead of schedule. Production is predicted to be 175,000 b/d. That is nearly a 10% rise in GOM production.
Kevin Nichols, CEO, said:
Our offshore corridor strategy is working - and we are pleased with the resilience and growth that the Gulf of