[thackney]

Not all of this area that would be opened is deep water requiring special techniques. This would include lots of area that is reachable with jack-ups.

[avacado]

"Not all of this area that would be opened is deep water requiring special techniques. This would include lots of area that is reachable with jack-ups."

In 2001 crusde was selling for $16-$26/barrel. The industry was going through massive layoffs. Any new reservoirs developed would have had to be very easy pickings.