Deepwater Exploration Is Booming Again

Oil and gas companies have boosted offshore drilling in recent months, finding large resources in the newest exploration hotspots and aiming to develop huge low-cost, low-emission oil and gas fields that will yield decades of high returns. The majors are investing more in deepwater exploration as they are doubling down on their pledge to continue delivering oil and gas to meet global demand. The high offshore drilling activity is already showing in the rising profits and backlogs of the world's top oilfield services providers and rig charterers.…