The Post-Macondo World of Litigation, Regulation and Transactions: No Longer Business As Usual
Article from: OGEL 2 (2013), in Risks and Responses to Risk in the Energy Sector
Introduction
The world of deepwater offshore drilling underwent a cataclysmic change on April 20, 2010, when BP p.l.c.'s ("BP") exploration well on its Macondo prospect in the Gulf of Mexico blew out. While some of Macondo's ramifications have become manifest in the twenty-five months since, the industry, especially the U.S. domestic industry, is only now working through the initial phases of these impacts. Any survey of the changes in the deepwater landscape, then, can only be an exercise rife with the difficulties of accurately describing a process still in motion. Still, we can discern ...