Major Oil Strike By Chevron?
The extent of the find is not known yet, but the deepest offshore well ever drilled in the Gulf of Mexico has begun producing about 6,000 barrels of oil per day.
NEW YORK (Reuters) - Three oil companies, led by Chevron Corp. have successfully drilled for oil in the Gulf of Mexico's deep waters, suggesting there may be more oil in the region that already provides a quarter of U.S. output, the companies said on Tuesday.
During the test, at record depths and pressure, the Jack No. 2 well flowed at a rate of more than 6,000 barrels of crude per day, Chevron said. That puts it on a par with discoveries in exploration hot spots such as the waters off Angola.
With U.S. oil output in decline, big new fields are increasingly rare and oil companies are widening their search to more difficult places. Chevron, the No. 2 U.S. oil company, did not give an estimate of the field's reserves.
Until more test wells are drilled, the extent of the reserves in the find will not be known.
By Bob N, Tuesday, 5 September , 2006 @ 2:50 pm
Ain’t it amazing what $70/bbl oil will do?
By tom scott, Tuesday, 5 September , 2006 @ 10:57 pm
Bob N. Do you think they started exploring, drilling and constructing the platform last month?