Exxon Mobil landed a deep-water drilling permit in the Gulf of Mexico. The permit will allow Exxon to drill in the Keathley Canyon Block 240 miles off the coast of Louisiana. The Bureau of Ocean Energy Management, Regulation and Enforcement started to issue permits again for deep water drilling. Currently, crude oil is over $100 a barrel and more drilling could help to ease market concerns.
To read a related Bloomberg article, please click here:
Jim Sutliff