Rediscovering

Canadian producers, prodded by strong demand and their inability to catch up by sticking to prevailing methods, show signs of at last adding dimensions in exploration and unconventional development to their natural gas supply strategies.

The Italians seem to be rediscovering the New World — and it’sin the Gulf of Mexico this time. In the largest venture of its kindin the Gulf of Mexico’s deep offshore, Exxon Mobil Corp. has givenAgip Petroleum Exploration Co. the opportunity to earn 25% of theU.S. company’s interest in up to 259 deepwater blocks. To earn theinterest, Agip, a subsidiary of Eni, the Italian oil and naturalgas company, has to participate in the drilling of at least 12exploration wells over the next five years.

The Italians seem to be rediscovering the New World — and it’sin the Gulf of Mexico this time. In the largest venture of its kindin the Gulf of Mexico’s deep offshore, ExxonMobil Corp. has givenAgip Petroleum Exploration Co. the opportunity to earn 25% of theU.S. company’s interest in up to 259 deep-water blocks. To earnthe interest, Agip, a subsidiary of Eni, the Italian oil andnatural gas company, has to participate in the drilling of at least12 exploration wells over the next five years.