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BP's 35,000ft well could produce 3bn barrels of oil
The Telegraph ^ | 9/2/2009 | Rowena Mason

Posted on 9/2/2009, 11:27:49 PM by bruinbirdman

BP has made a "giant" oil discovery in the Gulf of Mexico after drilling the deepest known oil well in the world.

The prospect, named Tiber, is believed to contain more than 3bn barrels of oil – making it a greater find than BP's Kaskida field in the region three years ago.

Sources close to BP said that within the next 10 to 15 years the Tiber and Kaskida finds could increase production by 50pc in the Gulf of Mexico.

Transocean, the US offshore rig company, said the Tiber well drilled more than 35,055 feet (10,685m) into the Earth about 250 miles south-east of Houston, Texas, was the deepest known well in the world.

BP currently produces 400,000 barrels per day from the Gulf of Mexico.

The area is particularly important to the Western oil majors because it is more accessible than fields in the Middle East or Russia.

BP has a 62pc majority stake in the Tiber block, while Petrobras, the state-owned Brazilian oil company, owns 20pc and US rival ConocoPhillips owns 18pc.

"Tiber represents BP's second material discovery in the emerging Lower Tertiary play in the Gulf of Mexico, following our earlier Kaskida discovery," said Andy Inglis, BP chief executive for exploration and production.

"These material discoveries, together with our industry-leading acreage position, support the continuing growth of our deepwater Gulf of Mexico business into the second half of the next decade."

A BP spokesman said that more tests would be needed to see how much oil was in the prospect and how much might be recoverable.

Shares in BP closed up 4.3pc at 541.65p, making it the biggest riser in the FTSE 100 index on Wednesday.

BP's find comes as the energy industry this week celebrates 150 years since crude oil was first

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Culture/Society; Miscellaneous; News/Current Events
KEYWORDS: energy; oil
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1 posted on 9/2/2009, 11:27:50 PM by bruinbirdman
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To: bruinbirdman

Is this or is this not quite a bit deeper than the normal zones they find oil in?

Geologists?


2 posted on 9/2/2009, 11:29:54 PM by djf (The "racism" spiel is a crutch, those who unashamedly lean on it, cripples!)
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To: bruinbirdman

Peak oil! Peak oil! We are doomed! /sarc


3 posted on 9/2/2009, 11:32:02 PM by Freedom_Is_Not_Free (Depression Countdown: 55... 54... 53...)
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To: bruinbirdman

That’s good news. However, I hear an unexpected event called “winter” is going to occur this year. This is predicted to cause heating oil demand to unexpectedly rise, unexpectedly. Due to this forecast of unexpected demand rising unexpectedly, the price of gasoline must immediately be raised through the roof.


4 posted on 9/2/2009, 11:32:09 PM by mysterio
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To: bruinbirdman
Brazil, now this. More bad news for the lefties, who keep saying “peak oil” occurred back in the nineties...
5 posted on 9/2/2009, 11:32:44 PM by Jagman (They comport, We deride!)
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To: djf

Umm.. you didn’t read far. The FIRST line of the EXCERPT said this is the deepest known oil well. I think that answers your question. I’m not a geologist. I just learnt to read goodly.


6 posted on 9/2/2009, 11:34:57 PM by Freedom_Is_Not_Free (Depression Countdown: 55... 54... 53...)
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To: bruinbirdman

Very deep penetration into the skin of our precious Earth causes unprecidented amounts of pain to Gaia. They must be stopped immediately.


7 posted on 9/2/2009, 11:36:09 PM by Steely Tom
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To: djf

Ribbing you... My question is, were they drilling for the Chinese. EEK. Ribbing...


8 posted on 9/2/2009, 11:36:11 PM by Freedom_Is_Not_Free (Depression Countdown: 55... 54... 53...)
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To: Freedom_Is_Not_Free
The expected three billion barrels at that site would supply the world for an entire month.
9 posted on 9/2/2009, 11:37:16 PM by trumandogz (The Democrats are driving us to Socialism at 100 MPH -The GOP is driving us to Socialism at 97.5 MPH)
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To: bruinbirdman

How does petroleum get that deep?


10 posted on 9/2/2009, 11:38:29 PM by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: djf
Is this or is this not quite a bit deeper than the normal zones they find oil in?

Yes.

Average US well depth


11 posted on 9/2/2009, 11:39:04 PM by mysterio
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To: Freedom_Is_Not_Free

No, I read that, I’m just trying to get a sense... like 500 feet deeper? Twice as deep than the average well?

I mean we’re talking seven miles down. Wasn’t too long ago that that itself was farther deeper than any other drill holes of any type at all.


12 posted on 9/2/2009, 11:40:05 PM by djf (The "racism" spiel is a crutch, those who unashamedly lean on it, cripples!)
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To: djf

More evidence for an organic source of oil.


13 posted on 9/2/2009, 11:41:15 PM by spyone (ridiculum)
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To: mysterio

Thanks!


14 posted on 9/2/2009, 11:41:47 PM by djf (The "racism" spiel is a crutch, those who unashamedly lean on it, cripples!)
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To: bruinbirdman
What kind of oil are we talking about? Light, sweet crude or sour? What are the engineering difficulties of pumping oil from this depth? What would the cost be? Is there a break even price point that would have to be met before pumping this oil is economically feasible?
15 posted on 9/2/2009, 11:41:47 PM by Dr. Thorne (Buy Gold and Guns Now!)
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To: trumandogz

True. Less than a half year supply for U.S.

parsy, who says drill anyway


16 posted on 9/2/2009, 11:42:28 PM by parsifal (Dare I mention the term common sense? Book of Vinnie - Chapter 58 Verse 1 (The Boomer Bible))
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To: bruinbirdman; SunkenCiv; KevinDavis

did they drill through the crust and into the Upper Mantle??


17 posted on 9/2/2009, 11:45:26 PM by GeronL (http://libertyfic.proboards.com)
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To: djf

Most of the wells that I work on, are what we call shallow water wells. They are from the beach to 45 miles out. They are usually 12,000’ to 15,000’. I worked one a couple of years that was 19,000’. That was the deepest I have worked on.


18 posted on 9/2/2009, 11:46:44 PM by Old Texan ((Leave me the HECK alone and let me live my life. I hate Commie's))
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To: Freedom_Is_Not_Free

The crust might be floating on an immense amount of oil, crust and mantle could be divided by vast amounts of oil.

its one of those theories


19 posted on 9/2/2009, 11:47:08 PM by GeronL (http://libertyfic.proboards.com)
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To: Steely Tom

Very deep penetration into the skin of our precious Earth causes unprecidented amounts of pain to Gaia. They must be stopped immediately.


You think that’s funny, but wouldn’t be a bit surprised to see Gaia worshippers (e.g., environmentalists) making that argument. Trust me, the population is almost sufficiently dumbed down for it to work.


20 posted on 9/2/2009, 11:47:52 PM by rbg81 (DRAIN THE SWAMP!!)
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