Treading Water in the Gulf of Mexico

BP drops from the top spot as the leading producer in the Gulf of Mexico.

Taylor Muckerman
Taylor Muckerman
Feb 6, 2013 at 2:00PM
Energy, Materials, and Utilities

After $5.6 billion in Gulf of Mexico asset sales since 2010, BP (NYSE:BP) has ceded its spot as the top producer in the region to Royal Dutch Shell (NYSE:RDS-A). This area has been the only strength in the North American market as of late, and companies are extremely bullish on potential in the gulf. BP's management clearly believes in this thesis as well, as it announced plans to spend around $4 billion annually in the offshore market here for the next decade. Will this help it reclaim the top spot? Only time will tell. Tune in below for Motley Fool energy analyst Taylor Muckerman's take on the Gulf of Mexico's effect on other big names in the oil and gas industry.