PPT Slide
Notes:
- Most of our current activity is in the Gulf of Mexico, where there are about 7,500 leases producing oil and gas from nearly 4,000 facilities ranging out to water depths greater than 5,000 feet.
- However, we also have 43 producing leases with 23 facilities off the Pacific Coast. California also has 36 non-producing leases. Alaska has 84 leases, although none are in production at this time.
- Without belaboring the point, the U.S. OCS is a very important part of the energy picture for America. The OCS contributes about 25 percent of domestic oil production and is second only to Saudi Arabia as a source of oil to meet U.S. energy needs. For natural gas, the OCS represents about 27 percent of domestic production, ranking third behind only Texas and Louisiana.
- And, of course, natural gas—particularly from the Arctic—is what we will be focussing on today.