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Breaking News. Bp Finds Giant Oil Field Off Mexico

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it's made a giant oil discovery, at its Tiber Prospect in the deepwater Gulf of Mexico. The well, located in Keathley Canyon block 102, approximately 250 miles south east of Houston, was drilled to a total depth of approximately 35,055 feet, making it one of the deepest wells ever drilled by the oil and gas industry, the company said.

holy crap, 35,000 feet hole.........

necessity is the mother of invention as they say

Edited by cells

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holy crap, 35,000 feet hole.........

necessity is the mother of invention as they say

It is where that giant asteroid hit and wiped out the dinosaurs... wonder what else has been lying down there undisturbed for 65 million years... are they sure it is oil that they are extracting... someone call Sculder & Mully.

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It is where that giant asteroid hit and wiped out the dinosaurs... wonder what else has been lying down there undisturbed for 65 million years... are they sure it is oil that they are extracting... someone call Sculder & Mully.

:lol::lol:

Great more cheap energy to keep the ponzi dream alive.

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It is where that giant asteroid hit and wiped out the dinosaurs... wonder what else has been lying down there undisturbed for 65 million years... are they sure it is oil that they are extracting... someone call Sculder & Mully.

Dig a few more feet and they can extract molten hot earth and use that energy.

These new record-breaking depths may help the geothermal industry in the future.

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BP announced today a giant oil discovery at its Tiber Prospect in the deepwater Gulf of Mexico.

The well, located in Keathley Canyon block 102, approximately 250 miles (400 kilometres) south east of Houston, is in 4,132 feet (1,259 metres) of water. The Tiber well was drilled to a total depth of approximately 35,055 feet (10,685 metres) making it one of the deepest wells ever drilled by the oil and gas industry. The well found oil in multiple Lower Tertiary reservoirs. Appraisal will be required to determine the size and commerciality of the discovery.

"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, chief executive, 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."

Tiber is operated by BP (NYSE: BP), with a 62 per cent working interest with co-owners Petrobras (NYSE: PBR/PBRA, 20 per cent) and ConocoPhillips (NYSE: COP, 18 per cent).

http://www.bp.com/genericarticle.do?catego...ntentId=7055818

What is oil doing 10 kilometres down?

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This is not good for house prices. Peak oil has cast a shadow over the UK/US ponzi scheme of ever increasing debt. This will only add fuel to the ponzi fire (pun intended). Watch all indices head for the moon......

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