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BP (NYSE: BP) Adds Two Deepwater Rigs in Gulf of Mexico

+Natural Gas Outlook 2014

Written by Brian Hicks
Posted November 21, 2013

BP (NYSE: BP) Adds Two Deepwater Rigs in Gulf of Mexico

BP is increasing its number of deepwater drilling rigs in the Gulf of Mexico to record levels this year. The company announced today that it will be adding two more rigs, bringing its Gulf total to nine.

One of the rigs will be the West Auriga, a drill ship contracted out by Seadrill Ltd. (NYSE:SDRL) It will be used in the Thunder Horse field, which is the largest offshore oilfield in the Gulf.

The other rig isn't new, but rather is the Mad Dog drilling facility that was badly damaged by Hurricane Ike back in 2008. The hurricane knocked the drilling derrick down, and it sank to the bottom of the sea. BP says the complex has been refurbished and that it can continue drilling efforts that have been interrupted for nearly four years.

Natural Gas Outlook 2014

There won't be a big spike in domestic natural gas price in 2014, but don't worry. It's a big world and there is plenty of opportunity on the other side of the Pacific. Yet only a few companies are ready to capitalize. Find out what you should do as an investor by clicking here. 

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