We are sometimes so focused on un-conventional production that, in discussing U.S. oil production trends, we're almost perplexed when the subject of offshore output comes up. Yes, we have to remind ourselves, the Gulf of Mexico is not only still pumping oil but raised output by 150,000 barrels per day from December 2014 to December 2015. As with other major projects, delivering new offshore volumes requires financing—a currency that's become increasingly precious as cash flows have shrunk with plummeting crude prices. So what more opportune time to introduce another financing option for Gulf of Mexico projects than the current tough period?
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