Bud's Offshore Energy (BOE)

As we approach the 4th of July, remember this:

In 1979 Gulf of Mexico oil production had declined to 263 million barrels and many believed that further declines were inevitable. 40 years later, a record 693 million barrels were produced.

Onshore, lateral drilling and hydraulic fracturing capabilities are continuing. As a result, Exxon and others are predicting projecting higher recovery factors in the Permian Basin. Per Exxon CEO Darren Woods: “We are beginning to see the signs of some very promising new technologies that will significantly improve recovery.”

Opportunity + Ingenuity ➡ Energy Independence + Prosperity