The Offshore Oil Business Is Gushing Again

The Wall Street Journal · Bob Henderson · last updated January 22, 2023 – 1:19 AM

Rigs that haven’t been used in years are setting out to sea as demand for energy surges. ‘Everyone started drilling again.’The $1.2 billion Deepwater Titan sat idle in a Singaporean shipyard for five years, looking like an abandoned cruise ship with a derrick attached to its deck.

Related Knowledge Center: Offshore drilling

State of Play

The Biden administration is proposing additional leasing for offshore oil and gas drilling, largely limiting the plan to the Gulf of Mexico.

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