Re: Huge oil field found in Gulf of Mexico

Interesting article. I had no idea that they had to drill down that deep. My question is how did dinosaurs and other marine life get down there so deep? I guess the other theory about oil not coming from organisms could explain this.

DaveL


"George" <george@xxxxxxxxxxxxxxx> wrote in message news:d_6dnXgzOfH3OmDZnZ2dnUVZ_sydnZ2d@xxxxxxxxxxxxxxxx
http://news.monstersandcritics.com/business/article_1198182.php/Huge_oil_field_found_in_Gulf_of_Mexico

SAN RAMON, CA, United States (UPI) -- Chevron Corp. and two partners have recorded a stunning 6,000-plus barrel per day crude oil production rate from a single deep-water Gulf of Mexico well.

Known as the Jack 2 well, it sits in 7,000 feet of water and was drilled to more than 28,000 feet, Chevron said Tuesday. The well, 270 miles southwest of New Orleans, revealed a net 350 feet of oil-bearing soil.

Chevron and its partners, Devon Energy Corp. of Oklahoma City and Norway`s Statoil ASA, will drill another appraisal well next year and plan to begin commercial production in 2008. Chevron, the operator, holds a 50 percent interest in the well, with Devon and Statoil both holding 25 percent stakes.

If participants` expectations of the region`s prospects are correct, the Jack 2 means billions of barrels of as-yet-untapped crude oil available to the market.

Devon`s Stephen J. Hadden, senior vice president, exploration and production, said that, with 273 blocks under lease and 19 exploratory prospects already identified in the area, the find could more than double the company`s current reserve base of about 2 billion equivalent barrels.



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