Waiting for prices to rise

The Gulf of Mexico is a major oil producing area (for US and Mexico), However, the production cost for a barrel of oil from deepwater areas can be over $65 per barrel. With current prices languishing in the mid $40s, there is not much demand for drilling rigs to explore new areas. The same applies for all of those tender vessels that carried chemicals, cement and supplies to service the rigs and provided safety watch during the drilling. To an extent, Galveston shipyard has moved from a maintenance facility to a storage lot.

It has almost become a family joke when I visit Pier 21 with my camera to check out the current inhabitants. Summer sunsets are always beautiful (if still hot) but I am looking forward to winter and the reflections of the floodlights that will illuminate the yards.