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The Times They Are a Changing! As the hope and expectation of vast reserves increases so do the costs and challenges of doing business in the Gulf of Mexico. Deep water and deep shelf plays are facing challenges and limitations. In the summer of 2005 acts of nature converged on the Gulf of Mexico bringing the vulnerability, limitations and the country’s reliance on these resources to meet its needs to the forefront.

Hurricanes Katrina and Rita will likely lead to new regulations and/or changes to existing requirements. Production has been permanently lost where the cost to bring it back can not be justified. Production was on hold when refineries were not able to take in reserves. The cost of business such as insurance, rigs and crews are increasing as fast as the price of oil. Availability of rigs, crews and seismic vessels are limited. In the past year their have been significant changes in Players.

Uncertainty abounds with change being the only constant. Will the changes provide more access to previously off-limits technically recoverable resources and increase domestic production? Can resolution to the disputes and debates over deepwater royalty relief, environmental concerns, off-limit areas for production, necessary improvements to and expansion of infrastructure and new rigs come in time for companies to continue developing the Gulf? Will technology be available in time? How has and will Congress and the government resource managers react to the challenges and limitations industry faces? What impact will developing alternative uses of the OCS have on the industry?

HOTEL

Hilton Houston Westchase is located at 9999 Westheimer Road, Houston, Texas, 77042-3802 . Map It!

We have a limited number of hotels rooms being held for attendees of Gulf Waters 2006. This hold will end Monday August 14 and the rooms will be released to the general public. The special Gulf Waters room rate is $149.00 per night plus taxes. To reserve a room call 713-974-1000 and identify yourself as members of the group “The Energy Forum”