Schollnberger pointed to three emerging trends that are reflected at this year's conference. First, we are exploring and producing in deeper and deeper waters. And we will continue to plunge further below the surface. OTC brings the new ideas that will be needed to embrace the challenges of drilling safely and efficiently in such deep waters. Second, in order for our industry to continue to meet the environmental challenges of a global marketplace, we must heed the call for fuels leaner in carbon and richer in hydrogen.
Natural gas is currently our best answer.
The challenge is to find ways to tackle the economic and infrastructure concerns of taking the natural gas from where it is found to where it is used. The final trend is digitization. Digitization is quickly converging with other aspects of our industry to address the economic and environmental issues facing both domestic and international energy companies. The panel discussed the flexibility and other benefits of the leveraged lease agreement used in the spar platforms built at the Boomvang and Nansen developments. Both projects begin exploration at more than 3,500 feet.