Gulf Drilling Restart Could Trigger Shortages

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March 2, 2011

(Dow Jones) If Noble Energy’s (NBL) deepwater-drilling permit is indeed the first of several to come for the Gulf of Mexico–as US regulators contend–then there could be a looming shortage of equipment and drilling services, says Barclays Capital. “The services companies are surprised how bullish their customers are” about their return to the Gulf, it notes. With most deepwater work halted after April’s Deepwater Horizon disaster, as many as 40 supply vessels moved to places like Trinidad and Brazil, and scads of drill pipe have been brought onshore for use in North American shale fields, notes Barclays.

(c) Dow Jones Newswires

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