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Funding Offshore E&P
- Article from:
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Oil & Gas Investor
- Article date:
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May 1, 2008
- Author:
- Chang, Ellen
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Copyright informationCopyright Hart Energy Publishing, LP May 2008. Provided by ProQuest LLC. (Hide copyright information)
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ES&P firms that focus on offshore drilling and production are finding various methods to finance acquisitions or accelerate their drilling programs. Commercial banks and private equity providers are not adverse to taking an interest in Gulf of Mexico exploration and development, even though the assets underlying such companies differ greatly from onshore assets as far as reserve life goes.
Callon Petroleum Co., Northstar GOM LLC, Cobalt International Energy LP and Dynamic Offshore Resources LLC are examples of EStP companies that have employed various strategies to fund their offshore programs. Each predicts an increase in drilling in 2008 as oil and gas demand increases and commodity ...