Shell has big find in Gulf

[Judi Lynn]

Source: Houston Chronicle

Shell has big find in Gulf
By BRETT CLANTON Copyright 2010 Houston Chronicle
March 19, 2010, 11:02PM

Shell said Friday it has made a “significant” new oil discovery in the Gulf of Mexico, building on recent successes in the region.

The Appomattox prospect, in more than 7,000 of water in an area called Mississippi Canyon, was announced after Shell drilled two wells to more than 25,000 feet below the seabed, the first encountering 530 feet of oil pay, the next 380 feet.

Shell holds an 80 percent working interest in Appomattox. Canada's Nexen has 20 percent.


Read more: http://www.chron.com/disp/story.mpl/business/6922011.html

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Adding maps, hope it helps:

http://www.oilvoice.com.nyud.net:8090/images/lr/0302.gif http://wwwtest.enbridge-us.com.nyud.net:8090/uploadedImages/Enbridge_Energy/About_Us/Our_Businesses/Natural_Gas_Segment/Offshore/EOP%20map.gif

[TheDebbieDee]

1. Are there weapons of mass destruction there yet?

Or, do we even need to bother with that ruse anymore?

[bc3000]

2. Awesome, gots to get me some of that cheap, cheap American Oil

That oil costs us less, right? Which gas station can I go to for my American Citizen discount? I'm tired of paying high prices for imported oil.

[gtar100]

4. I'm sorry. Despite record-breaking profits, prices must remain high

due to antiquated and deteriorating refinery infrastructure. You see, profit isn't for reinvesting companies anymore. That's the old-school way of doing business. These profits have been earmarked for executive savings accounts and humanity's welfare is hardly a priority.

[AngryAmish]

8. Royal Dutch Shell

[jpak]

15. LOL!!111 Palin thinks the same way - too bad oil is an internationally traded commodity

and will be sold at international prices on the international market - no matter where it's produced....

:D

[Old and In the Way]

3. The Gulf has depths of 7000 feet?

I did not know...I thought it was a really shallow basin.

[RainMickey]

20. The GOM has water depths that exceed 10,000 ft. n/t

[AsahinaKimi]

5. Is this the same Shell Oil

Who will most likely sell their oil to another country to make a bigger profit? I have read that so many times on DU, that oil companies would rather sell to someone who will pay more for it, then to Americans who want and need it here the most.

[zonkers]

6. Drill... baby... drill.

[rucky]

7. does this mean gas prices will be going down?

:rofl:

[2Design]

9. more oil to stockpile so they can raise prices n/t

[BumRushDaShow]

10. Soon to be capped to keep supplies down and gouging up. n/t

[4dsc]

11. Why the misleading header?

There's no amounted list here only the term "significant" yet you believe this is a BIG find?? Please..

[Keefer]

12. Forgive me, but...

"significant" does not usually = small.

[4dsc]

13. "Big" is in the eye of the beholder.

Most of the time these finds are not as "big" as they would like the people to believe. Until numbers are actually put to the test here I would refrain from making this a bigger story than it really is.

Beside, your definition of big is probably a lot smaller(and I do mean a lot smaller) than my definition of big..

[Keefer]

14. Who knows... (nt)

[gtar100]

19. They are 'big' when they need funding; 'small' when supply might affect price.

That's one pessimist's theory, anyway.

[NickB79]

21. Bear in mind the US uses 7 BILLION barrels of oil per year

Other "significant" finds, like the ones off of Brazil and Cuba, have been less than 1-2 year's worth of US oil demand.

[naaman fletcher]

18. That's what I was wondering. nt.

[hunter]

16. "Our whole economy is now based on who can trick other people out of their money"

--Syrinx

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=7953690&mesg_id=7953690

This "find" doesn't mean anything. In 7000 feet of water it means even less.

It's a big find when you find a couple of quarters in the cracks of your sofa, but that won't pay the mortgage.

[kestrel91316]

17. Wonderful. Good for them. But we STILL need to wean ourselves off

our unhealthy and inappropriate dependence on fossil fuels.

[Subdivisions]

22. The world uses 31 Billion barrels per year.

They don't say how many barrels they believe is there but 2.6 billion barrels would last one month.

[RedCloud]

23. Why are we intruding in Mexico's gulf?