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BP Announces Gulf Of Mexico Discovery
Houston TX (SPX) Oct 21, 2008 BP America has announced an oil discovery at its Freedom Prospect in the deepwater Gulf of Mexico. The well, located in Mississippi Canyon Block 948, approximately 70 miles southeast of the Louisiana Coast, is in about 6,100 feet (1,860 meters) of water. The Freedom well was drilled to a total depth of approximately 29,280 feet (8,927 meters) and encountered greater than 550 net feet of hydrocarbon-bearing sands in Middle and Lower Miocene reservoirs. Appraisal will be required to determine the size and commerciality of the discovery. "The Freedom well is our third discovery in this part of the deepwater Gulf of Mexico following our Tubular Bells and Kodiak discoveries," said Andy Inglis, Chief Executive, Exploration and Production. "This discovery further strengthens BP's resource base and portfolio of potential development projects in the Gulf of Mexico. We believe that Freedom straddles Mississippi Canyon Block 948 (BP 25%) and Mississippi Canyon Block 992 (BP 67.75% and BHP as Operator 32.25%) and we look forward to working with our various partners towards efficient development of these discovered resources." The well is operated by BP Exploration and Production, a wholly-owned subsidiary of BP America, with a 25 percent working interest, and includes co-owners Noble Energy with a 37.5 percent working interest, Samson Offshore Company with a 25 percent working interest and Marathon Oil Company with a 12.5 percent working interest. The lease was acquired by Noble Energy and Samson Offshore at federal OCS Lease Sale 198 in March, 2006. Related Links BP America Powering The World in the 21st Century at Energy-Daily.com
API Chief Says Offshore Policy Needs Clarity
Washington DC (SPX) Oct 21, 2008U.S. oil companies will need clarity from the next president and Congress quickly as to whether the recent lapse of the moratorium on offshore oil and gas drilling that opened more of the Outer Continental Shelf (OCS) to exploration is something other than a "temporary aberration," American Petroleum Institute President Red Cavaney has said. |
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