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Author Topic: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico  (Read 1361 times)

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Offline crockspot

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BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« on: September 02, 2009, 02:01:54 PM »
BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico

 Sept. 2 (Bloomberg) -- BP Plc, Europe’s second-largest oil company, reported a “giant” discovery at the Tiber Prospect in the Gulf of Mexico that may contain more than 3 billion barrels, after drilling the world’s deepest exploration well.

The well is located about 250 miles (400 kilometers) southeast of Houston, the London-based company said today in a statement. It was drilled to approximately 35,055 feet (10,685 meters), greater than the height of Mount Everest.

The latest discovery will help BP, already the biggest producer in the Gulf of Mexico, boost output in the region by 50 percent to 600,000 barrels of oil equivalent a day after 2020. It’s equal to about a year’s output from Saudi Arabia, the biggest exporter in the Organization of Petroleum Exporting Countries, as well as coming close to matching the U.K.’s entire proven reserves.

“It will take a while to develop, the second half of next decade, but it’s very important,” Jonathan Rigby, an analyst at UBS AG in London, said in a telephone interview.

snip

http://www.bloomberg.com/apps/news?pid=20601087&sid=a44RUTBIl_3Q

They think there is a lot more to find down there too.

So much for Peak Oil. Fire up the Hummer!
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Offline Texacon

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #1 on: September 02, 2009, 02:31:51 PM »
Sounds to me like a good cover story for all the 'new' oil that will be flowing into England for getting a terrorist released.

 :popcorn:

KC
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Offline jinxmchue

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #2 on: September 02, 2009, 03:25:13 PM »
Cue the Dems to step in an squash the development.
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Offline Thor

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #3 on: September 02, 2009, 04:58:32 PM »
That's not a NEW discovery. It was discovered several years ago, but with the Eco-Nazis, they haven't been allowed to drill. I remember reading about this circa 2003. I guess they think people don't pay attention.
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Offline Splashdown

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #4 on: September 02, 2009, 05:15:52 PM »
So now, the liberal meme won't be "runing out of oil," it'll be back to climate change.  :whatever:
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Offline Airwolf

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #5 on: September 02, 2009, 10:18:37 PM »
And yet the price per gallon of unleaded will only go higher. No thanks to the Dems.
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Offline BlueStateSaint

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #6 on: September 03, 2009, 04:45:58 AM »
Quote from: Thor on September 02, 2009, 04:58:32 PM
That's not a NEW discovery. It was discovered several years ago, but with the Eco-Nazis, they haven't been allowed to drill. I remember reading about this circa 2003. I guess they think people don't pay attention.

I don't remember it that long ago; but I remember something around 2005 or so.
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Offline JohnnyReb

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #7 on: September 03, 2009, 07:37:52 AM »
Al Gore is thankful....that's almost enough oil to keep his private jet flying.
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Offline Thor

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #8 on: September 03, 2009, 12:26:29 PM »
Perhaps this is what I was recalling. All I know is that there is ample oil for the next century + in the Gulf of Mexico, the Pacific Coast and other areas here around the US. Hell, China is slant drilling off the coast of Cuba to access some of that oil.


Mississippi Canyon     BP     Thunder Horse     >1,000    4/1999   Announced Press Release 11/2000
http://www.aapg.org/explorer/2003/09sep/gulftables.cfm#1

Here's the 2006 discovery:
http://www.msnbc.msn.com/id/14678206/

Then there's some contention that oil is replenishing itself in some areas. And then, something about some critters that eat rocks and produce oil.
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Offline Ogre

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Re: BP Makes ‘Giant’ Oil Discovery in Gulf of Mexico
« Reply #9 on: September 03, 2009, 04:46:58 PM »
Quote from: jinxmchue on September 02, 2009, 03:25:13 PM
Cue the Dems to step in an squash the development.

You know the DUmpmonkey's would freak out if their "no war for oil" motto was rendered useless.
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