A research update for the IHS report, Restarting the Engine – Securing American Jobs, Investment and Energy Security is now available. The research update extends the study’s examination of the volume of deepwater permit approvals through the period of April 10, 2011-October 12, 2011 (6-12 months since the lifting of the deepwater moratorium).
Deepwater Drilling Permits. Update now available.
Key findings include:
- The volume of permit approval has increased in each of the two quarters following the January 1, 2011- April 10th, 2011 period.
- All together annualized Q3 and Q4 volume of permit approval activity, respectively, was 41% and 56% of the historical annual average.
- On aggregate, in the 12 months following the lifting of the moratorium, the 51 permits approved result in an annual rate of approval that was 32% of the historical average of 151 permits.