Operators Chevron, Shell, Talos, and others announced five new discoveries in the deepwater Gulf of Mexico over the past twelve months.

As oil prices improve and demand increases, in part due to U.S. led Russian sanctions and the expanding economy, Gulf operators revved up their activity in deepwater drilling programs that had been placed on hold.

Looking forward, more deepwater drilling will continue to increase from a number of projects that are expected for the US Gulf of Mexico this year, as oil prices hold up and demand soars.