"We are bullish on the Gulf," Chevron (CVX -1%) says as it moves its fifth deepwater drill ship...

|About: Chevron Corporation (CVX)|By:, SA News Editor

"We are bullish on the Gulf," Chevron (CVX -1%) says as it moves its fifth deepwater drill ship into the Gulf of Mexico. The ship, under contract with Pacific Drilling (PACD +0.8%), is the first drillship designed with the capacity to perform dual gradient drilling, which allows drillers to more closely match pressures and effectively eliminates water depth as a consideration in well design.