The US government banned offshore drilling for many months after the Gulf of Mexico oil spill in June 2010. That has now started reflecting in the numbers of many small and medium sized companies linked to the offshore drilling industry.
Now even the second largest energy company of US, Chevron inc., seems to have been badly hit by the offshore drilling ban.
The company has reported a drop in profits despite the crude oil prices rising by a hefty 40% during the third quarter from over a year ago rates. Now that the ban has been lifted, the company can be expected to report better numbers during the current quarter.