ATW: Best Way to Play the Gulf ‘Gold Rush’

The BP (NYSE: BP) oil spill is all but a distant memory as the number of deepwater rigs operating in U.S. waters is poised to reach a record high this year.

Driven by sustainable high crude oil prices, new lease agreements and successful exploration missions, activity in the industry is flourishing.

And the government is becoming one of the region’s biggest proponents.

As a part of its strategy to decrease foreign oil imports 30% by 2020, the Feds are opening up the western and central regions of the Gulf of Mexico for auction. As a result, a mini gold rush effect has occurred among drillers. (more)

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