BP, Chevron strike oil at major deepwater Gulf of Mexico prospect site

[Judi Lynn]

Source: Times-Picayune

BP, Chevron strike oil at major deepwater Gulf of Mexico prospect site
By Jennifer Larino, NOLA.com | The Times-Picayune
on October 23, 2014 at 10:44 AM, updated October 23, 2014 at 11:07 AM

Chevron and BP have hit oil at a key exploration site in the deepwater Gulf of Mexico. This is BP's second major discovery in the deepwater Gulf since the 2010 oil spill.

The discovery, known as Guadalupe, is in the Keathley Canyon region of the Gulf of Mexico about 300 miles southwest of New Orleans in nearly 4,000 feet of water.

The Guadalupe prospect targets oil in a Paleogene-era layer of sand more than 30,000 feet under the ocean floor. Chevron and BP did not say how much oil they estimate is in the reservoir.

Chevron and BP each own a 42.5 percent share in the well. Venari Resources, a Texas oil and gas exploration company focused on the deepwater Gulf, owns the remaining share.


Read more: http://www.nola.com/business/index.ssf/2014/10/chevron_bp_strike_oil_at_major.html

[Dont call me Shirley]

1. Here we go again.

[sakabatou]

4. Another possible Deepwater

[WhoWoodaKnew]

6. yep

[strawberries]

2. let's go back to $40 a barrel nt

[wordpix]

3. let's develop solar, wind and biofuels

and by biofuels I ain't talkin about oil, gas and coal

[strawberries]

5. yes yes

but until then l could enjoy a winter of pay half of what I paid last year. It was tuff