By consolidating GOM operations, ChevronTexaco will be able to reduce operating costs while leveraging Unocal's proprietary geologic data.

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In the last quarter, most drillers, including Halliburton, suffered setbacks due to weather related issues in the Gulf of Mexico (GoM).

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So let me connect some dots for you from April back to last fall when McMoran was busy acquiring the GOM interests in its wells from Plains Exploration and Production.

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Through the year, the offshore rig count in North America has grown by around 22%, and this year has seen the highest number of drilling permits issued in the GoM since 2007.

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