Over the past 6 months, I've talked about several emerging geographic and technology frontiers in the oil and gas industry. One of the most exciting and prolific emerging technology frontiers is also geographic in a way--the seafloor of deepwater basins around the world. Since the first installation of a subsea production tree in the Gulf of Mexico in 1961, the surge in the deployment of subsea wells has resulted in significant economic and environmental improvements in deepwater development. High oil prices, technological developments, and the need to counterbalance declining production in mature shallow-water basins have been driving the move of offshore oil and gas operations into deep and ultradeep ( 10,000 ft) waters. Growth in this sector has been momentous over the past few decades.