Mexico finds second oil deposit in deep Gulf water

Marketwatch ^ | Oct. 5, 2012, 11:28 a.m. EDT | Laurence Iliff

[Ernest_at_the_Beach]

MEXICO CITY--Mexico's state-owned oil company Petroleos Mexicanos, or Pemex, has found a second significant crude-oil deposit in the deep waters of the Gulf of Mexico, President Felipe Calderon said Friday.

With the new "Supremo" deposit, Pemex expects to book new oil reserves of up to 125 million barrels, using the broadest measurement of proven, probable and possible, or 3P, reserves, Mr. Calderon said at a press conference.

[Resolute Conservative]

Put into perspective we use 20 million a day. So that is one week’s worth. Bakken has billions, but kudos to them they get to drill while we burn corn...

[Ernest_at_the_Beach]

From a local source:

Large oil reserve found in Gulf of Mexico near Matamoros

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Large oil reserve found in Gulf of Mexico near Matamoros

by Sergio Chapa

Posted: 1 hr, 34 mins ago

Months of rumors have ended with authorities confirming the discovery of a large oil reserve in the Gulf of Mexico near Matamoros.

Mexican President Felipe Calderon made the announcement Friday morning.

Mexico's national oil company PEMEX reported on Twitter that the deepwater Supremus 1 well has yielded light crude.

The new oil well is located about 155 miles away from Matamoros and 39 miles off the Mexican coast.

According to PEMEX, the well is expected to be the deepest in Mexico and the eighth deepest in the world.

Action 4 News will provide more information as it becomes available.

[Ernest_at_the_Beach]

Lot of work to get this oil,....eighth deepest well in the world.

But it is right on the US border ....See this:

Matamoros–Brownsville Metropolitan Area

But I think this is a whole new area ....guess Thackey can correct me.

[thackney]

The Supremo exploratory well is 250 kilometers east of the Gulf port of Matamoros on the border with the U.S. and 40 kilometers south of Mexico's maritime border with the U.S

I don't consider 25 miles right on the border, just near to it. World record horizontal reach for drilling is about 8 miles.

[Gay State Conservative]

If there’s a huge accident in one of Mexico’s...or Cuba’s...drilling rigs is it possible that the oil might wind up on US beaches or hurting US fishing grounds?

[thackney]

BOEM Gulf of Mexico OCS Region Map
Blocks and Active Leases by Planning Area
http://www.boem.gov/uploadedFiles/BOEM/Oil_and_Gas_Energy_Program/Leasing/Regional_Leasing/Gulf_of_Mexico_Region/mau_gom_pa.pdf

[marron]

Its happened before.