Oil and gas producers in the U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry’s future. The dominance of the top producers in the Gulf looms large as the industry’s technology showcase, the Offshore Technology Conference, officially gets underway in Houston on Monday. The event, which in prior years drew more than 60,000 people and 1,000s of exhibitors, will be smaller this year due to company cutbacks and coronavirus-induced travel restrictions. read more The pandemic, along with recurring hurricane shut-ins, hastened the demise of some Gulf of Mexico producers. Smaller, private-equity-backed firms that pushed into offshore fields last decade have struggled, leading several to exit while others slipped into bankruptcy. “We’re only going to see further consolidation,” said Colin White, an analyst […]