US GoM E&P Quick Take

July 18, 2020

Production cuts in US GoM turned out less drastic than some predicted. April reported crude production only fell by 3.4% or 62,600 bbl/d compared to February, prior to the price crash.

Deepwater projects demonstrated resilience, dropping by only 2%. Shallow water production declined by over 16% – a drop of 26,700 bbl/d.