Massive New Find in Mexico Gulf

abarrelfull wrote on 12 Jan 2010 06:59
Tags:

Latest Blogs

---

Whilst the world prays for another Cantarell Oil Field, even mature areas can produce impressive results sometimes.

McMoRan Exploration Co. announced today a discovery on its Davy Jones ultra-deep prospect located on South Marsh Island Block 230 in approximately 20 feet of water.

In shallow water, but at great depth below the sea bed, is a huge reserve just waiting to be exploited.

McMoRan’s Co-Chairman, James R. Moffett, said: “Davy Jones log results confirm our geologic model and indicate that the previously identified sands in the Wilcox section on this large ultra-deep structure encompassing four OCS lease blocks (20,000 acres) provides significant additional development potential which, upon confirmation development drilling, could make Davy Jones one of the largest discoveries on the Shelf of the Gulf of Mexico in decades.

With the volume of oil imports that the USA is making, any new discovery is welcome. It seems unbelievable that so much of the US coastal area is off limits. Who knows what might be discovered otherwise.

---

---