Deepwater Drillers Slowly Move Rigs Away From Gulf

Law360, New York (March 31, 2011, 5:03 PM EDT) -- Deepwater drillers are unlikely to leave the Gulf of Mexico entirely, but they are moving certain assets to places like Brazil and West Africa as a result of the steep decline in permits issued, experts say.

After the Deepwater Horizon accident on April 20, which killed 11 workers and spewed millions of barrels of oil into the environment, the Obama administration imposed a deepwater drilling moratorium that shuttered 33 gulf leaseholders who were conducting exploration drilling.

The moratorium was officially lifted in October; however, the administration...
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