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PeakOil is You

Catalog of recent oil discoveries pt 3

General discussions of the systemic, societal and civilisational effects of depletion.

Significant new discovery in MX GOM

Unread postby rockdoc123 » Wed 12 Jul 2017, 10:50:14

Mexico Oil Privatization Pays Off With Billion-Barrel Find ... ico-waters

A consortium of Premier Oil Plc, Sierra Oil & Gas S de RL de CVand Talos Energy LLC made the discovery in the shallow waters of the southern Gulf of Mexico just two years after winning the exploration license. It’s the first new find by a private company in the country in almost 80 years, according to consultant Wood Mackenzie Ltd., possible only after the government ended the monopoly of state-run Petroleos Mexicanos.

When Premier Oil and its partners spudded the Zama-1 exploration well in May, the estimates were for as much as 500 million barrels of oil in place. In an interview on Wednesday, Tony Durrant, the chief executive officer of Premier Oil said that figure is now 1 billion to 1.5 billion barrels. Sierra said the primary target reservoir contains 1.4 billion to 2 billion barrels and could extend into a neighboring block.
Premier is taking a “reasonable guess” but said its partners may deem it’s being “too cautious,” Durrant said. Full drilling results due next month are more likely to confirm or upgrade current estimates, he said

early days but interesting.
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Re: Significant new discovery in MX GOM

Unread postby Cog » Wed 12 Jul 2017, 13:54:12

In before the usual suspects post that this is only around 11 days global oil consumption and doesn't matter.
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Re: Significant new discovery in MX GOM

Unread postby copious.abundance » Thu 13 Jul 2017, 17:32:40

Abundance aplenty. :)
Stuff for doomers to contemplate:
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