11 May 2021 10:48 GMT Updated 11 May 2021 10:48 GMT OPINION: Significant signs of life are returning to some of the traditional heartlands of offshore exploration and development. The US Gulf of Mexico and the North Sea are beginning to hum with supply contracts being placed and assets changing hands. Oil prices have surged gently upwards while wider business and economic sentiment has dramatically improved. There is no hiding that 2020 was a disastrous year for the oil and gas sector, certainly in the US. Some significant operators and supply companies plunged into financial crisis and bankruptcy proceedings. Rising tide Noble Corporation, Diamond Offshore and Valaris have just emerged from Chapter 11 with new board members and balance sheets.