Breakings NEWS:Huge Oil Field found in Gulf of Mexico,War onTerror Over! - GoFuckYourself.com

DEA - banned for life · 09-05-2006, 06:36 AM

A huge oil field was just found in the gulf of mexico..Looks like the war on terror is over...and gas prices will go down even more

http://www.usatoday.com/money/indust...k_x.htm?csp=34

Oil companies: Tests may suggest significant oil field in Gulf of Mexico
Posted 9/5/2006 9:04 AM ET E-mail | Save | Print | Subscribe to stories like this

OSLO (AP) ? Tests of a deep-water well in the Gulf of Mexico could indicate a significant oil discovery, three companies said Tuesday, in the first project to tap into a region that reportedly could boost U.S. oil and gas reserves as much as 50%.
The Jack 2 well was drilled by U.S. oil company Chevron (CVX), with partners Statoil of Norway and Devon Energy (DVN) of Oklahoma City.

"Test results are very encouraging and may indicate a significant discovery. The full magnitude of the field's potential is still being defined," Statoil said in a statement.

During the test, the Jack 2 well sustained a flow rate of more than 6,000 barrels of oil per day, Statoil said.

The Wall Street Journal reported Monday that Chevron and Devon officials estimate that recent discoveries in the Gulf of Mexico's lower-tertiary formations hold up to 15 billion barrels' worth of oil and gas reserves, a total that would boost the nation's current reserves 50%.

The well was drilled in the Walker Ridge area of the Gulf, about 270 miles southwest of New Orleans and 175 miles off the coast. It followed up a discovery made by Chevron in 2004.

"This area is one of the new and promising deep-water areas in the Gulf of Mexico," said Oivind Reinertsen, senior vice president of Statoil's Gulf of Mexico assets in Houston.

"The Jack 2 well test data are encouraging and may form the basis of future development projects in Walker Ridge," he said.

In a separate statement, Chevron said the well set a variety of records, including the deepest well successfully tested in the Gulf of Mexico. Chevron said it was drilled to a total depth of 28,175 feet in waters that are 7,000 feet deep.

Chevron has a 50% stake in the field, while Statoil and Devon own 25% each.

Shaze · 09-05-2006, 06:37 AM

bush still needs to invade korea before his term ends....so we still got awhile with high gas prices..

TheLegacy · 09-05-2006, 06:42 AM

interesting connection you made between finding a well and the war. Though you haven't thought that this is only going to allow it to continue since now they can fill the gas tanks up higher

DateDoc · 09-05-2006, 06:43 AM

We have tons of oil. In the Gulf and in Alaska but the tree huggers don't want us to drill in Alaska and the ppl who live on the gulf coast of FL dont want us to drill close to that coast.

DEA - banned for life · 09-05-2006, 06:44 AM

this will increase our reserves by up to 50%...thats MAJOR !

Mr. Romance · 09-05-2006, 06:46 AM

good news

Mr. Romance

Tom_PM · 09-05-2006, 06:53 AM

Good about the oil, no connection to the war I'm afraid though.

Sosa · 09-05-2006, 06:54 AM

please make it be gold! This $65/tank fill up sucks!

BT · 09-05-2006, 06:57 AM

I will believe it when I see it

jerseygto · 09-05-2006, 07:10 AM

well ill take it!!!!! but i dont trust it some big wigs always have thier hands in the cookie jar sooooooo ill believe it when i pull in mobil an its $2.00 for hi-test

KRL · 09-05-2006, 07:33 AM

Oil investing rocks!

SpaceAce · 09-05-2006, 07:37 AM

Quote:

Originally Posted by DEA

gas prices will go down even more

What are you talking about? Where do you live that gas prices have been going down?

Anyway, we'll never see a significant reduction in gas prices, no matter what comes out of this new well. All we'll see is higher profit margins for the oil companies.

SpaceAce

dcortez · 09-05-2006, 08:08 AM

So did your price of gas come down today?

It usually takes 10 minutes after 'bad news' for the price to go up - how about now?

stickyfingerz · 09-05-2006, 08:16 AM

Quote:

Originally Posted by SpaceAce

What are you talking about? Where do you live that gas prices have been going down?

Anyway, we'll never see a significant reduction in gas prices, no matter what comes out of this new well. All we'll see is higher profit margins for the oil companies.

SpaceAce

Umm just about everywhere nationwide prices have dropped. 2.62 here last night. Supposed to be 2.00 for regular by November or lower. This find doesnt matter till the tree huggers lets us build some new refineries. Thats the real problem. We cant refine what we have.

Sosa · 09-05-2006, 08:17 AM

Quote:

Originally Posted by SpaceAce

What are you talking about? Where do you live that gas prices have been going down?

Anyway, we'll never see a significant reduction in gas prices, no matter what comes out of this new well. All we'll see is higher profit margins for the oil companies.

SpaceAce

They have went down almost 20 cents / gallon here in the past week.

cellmoresmut · 09-05-2006, 08:20 AM

Yes gas pricing had declined here in the NE too, somewhere around $2.70/gal or a little less for regular grade. Still too high. There is also talk about large reserves being found in Colordo.

Barefootsies · 09-05-2006, 08:29 AM

Stop believing the hype.

There are a few things that keep the oil prices high, and it's nothing to do with world supply. It has to do with the speculators, refineries, and corporate greed.

Even with profits in the billions, the oil companies refuse to build more refineries. When the Saudi's OFFERED to build refineries to help in the oil price, the U.S. and oil companies refused.

When the price of gasoline sky rocketted, the Saudi's dumped more oil on the market.

Did the price go way down?
No.
Why?

The oil companies did not miss a step. They said that REFINERIES were MAXED OUT. I.E. all of the oil on the market doesn't mean anything if you haven't the capacity to process it into the end product.

RF_Erick · 09-05-2006, 08:39 AM

Gas prices are doing down..
Elections in 2 months.. hmmmmm

DEA - banned for life · 09-05-2006, 04:37 PM

Quote:

Originally Posted by RF_Erick

Gas prices are doing down..
Elections in 2 months.. hmmmmm

war in raiq going sour..nuclear war with iran a possibility.....HUGE OIL FIELD FOUND IN GULF COAST BEING TAPPED.....hmmmmmm

minusonebit · 09-05-2006, 06:26 PM

Its still $2.40 a gallon overpriced. Its not worth more than about $0.20 a gallon. I should be able to fill my tank up for $5.

DaddyHalbucks · 09-05-2006, 06:27 PM

It will be years before that oil field can be fully exploited.

reynold · 09-05-2006, 08:00 PM

I hope it'll be enough to sustain the country's demand for years.

09-05-2006, 06:36 AM	#1
DEA - banned for life V.I.P. Join Date: Nov 2004 Location: InYour Head Posts: 7,886	Breakings NEWS:Huge Oil Field found in Gulf of Mexico,War onTerror Over! A huge oil field was just found in the gulf of mexico..Looks like the war on terror is over...and gas prices will go down even more http://www.usatoday.com/money/indust...k_x.htm?csp=34 Oil companies: Tests may suggest significant oil field in Gulf of Mexico Posted 9/5/2006 9:04 AM ET E-mail \| Save \| Print \| Subscribe to stories like this OSLO (AP) ? Tests of a deep-water well in the Gulf of Mexico could indicate a significant oil discovery, three companies said Tuesday, in the first project to tap into a region that reportedly could boost U.S. oil and gas reserves as much as 50%. The Jack 2 well was drilled by U.S. oil company Chevron (CVX), with partners Statoil of Norway and Devon Energy (DVN) of Oklahoma City. "Test results are very encouraging and may indicate a significant discovery. The full magnitude of the field's potential is still being defined," Statoil said in a statement. During the test, the Jack 2 well sustained a flow rate of more than 6,000 barrels of oil per day, Statoil said. The Wall Street Journal reported Monday that Chevron and Devon officials estimate that recent discoveries in the Gulf of Mexico's lower-tertiary formations hold up to 15 billion barrels' worth of oil and gas reserves, a total that would boost the nation's current reserves 50%. The well was drilled in the Walker Ridge area of the Gulf, about 270 miles southwest of New Orleans and 175 miles off the coast. It followed up a discovery made by Chevron in 2004. "This area is one of the new and promising deep-water areas in the Gulf of Mexico," said Oivind Reinertsen, senior vice president of Statoil's Gulf of Mexico assets in Houston. "The Jack 2 well test data are encouraging and may form the basis of future development projects in Walker Ridge," he said. In a separate statement, Chevron said the well set a variety of records, including the deepest well successfully tested in the Gulf of Mexico. Chevron said it was drilled to a total depth of 28,175 feet in waters that are 7,000 feet deep. Chevron has a 50% stake in the field, while Statoil and Devon own 25% each.

09-05-2006, 06:37 AM	#2
Shaze Confirmed User Join Date: Oct 2003 Location: Cyberspace Posts: 2,662	bush still needs to invade korea before his term ends....so we still got awhile with high gas prices.. __________________ Adult Search Engine Japanese Porn Thai Porn

09-05-2006, 06:42 AM	#3
TheLegacy SEO Connoisseur Industry Role: Join Date: Apr 2003 Location: Brantford, Ontario Posts: 17,111	interesting connection you made between finding a well and the war. Though you haven't thought that this is only going to allow it to continue since now they can fill the gas tanks up higher __________________ SEO Connoisseur Microsoft Teams: Robert Warren SEO Telegram: @TheLegacy54 RobertWarrenSEO.com

09-05-2006, 06:43 AM	#4
DateDoc Outside looking in. Industry Role: Join Date: Feb 2005 Location: To Hell You Ride Posts: 14,243	We have tons of oil. In the Gulf and in Alaska but the tree huggers don't want us to drill in Alaska and the ppl who live on the gulf coast of FL dont want us to drill close to that coast. __________________

09-05-2006, 06:46 AM	#6
Mr. Romance The Face of Romance and the Symbol of Freedom Join Date: Mar 2005 Location: The America's Posts: 7,821	good news Mr. Romance __________________ Free Leads Program now paying up to $6 Gerard-Director of Global Sales Sign up Here: CamStarCash Check out: FreeCamStars ICQ: 330 662 299 gerard at freecamstars . com

09-05-2006, 06:44 AM	#5
DEA - banned for life V.I.P. Join Date: Nov 2004 Location: InYour Head Posts: 7,886	this will increase our reserves by up to 50%...thats MAJOR !

09-05-2006, 06:53 AM	#7
Tom_PM Porn Meister Industry Role: Join Date: Feb 2005 Posts: 16,443	Good about the oil, no connection to the war I'm afraid though. __________________ 43-922-863 Shut up and play your guitar.

09-05-2006, 06:54 AM	#8
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	please make it be gold! This $65/tank fill up sucks!

09-05-2006, 06:57 AM	#9
BT Confirmed User Join Date: Apr 2002 Location: Ft liquordale FL Posts: 6,481	I will believe it when I see it __________________ IS Prime Hosting Bald Head Shine "BT" The American Dream, baby! " THE HOST WITH THE MOST!" My ICQ 122994792

09-05-2006, 07:10 AM	#10
jerseygto Confirmed User Join Date: Aug 2006 Location: sofla at www.webfantasy69.com Posts: 341	well ill take it!!!!! but i dont trust it some big wigs always have thier hands in the cookie jar sooooooo ill believe it when i pull in mobil an its $2.00 for hi-test __________________ Promote http://www.pecash.com/cgi-bin/click1.cgi?14216 http://www.coolwebstats.com/cgi-bin/...iliate=1282672 www.webfantasy69.com

09-05-2006, 07:33 AM	#11
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	Oil investing rocks! __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

09-05-2006, 08:08 AM	#13
dcortez DINO CORTEZ™ Industry Role: Join Date: Jun 2003 Location: Vancouver Island Posts: 2,145	So did your price of gas come down today? It usually takes 10 minutes after 'bad news' for the price to go up - how about now?

09-05-2006, 08:20 AM	#16
cellmoresmut Confirmed User Join Date: Oct 2004 Location: state of confusion Posts: 149	Yes gas pricing had declined here in the NE too, somewhere around $2.70/gal or a little less for regular grade. Still too high. There is also talk about large reserves being found in Colordo. __________________ ICQ: 43380900

09-05-2006, 08:29 AM	#17
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Stop believing the hype. There are a few things that keep the oil prices high, and it's nothing to do with world supply. It has to do with the speculators, refineries, and corporate greed. Even with profits in the billions, the oil companies refuse to build more refineries. When the Saudi's OFFERED to build refineries to help in the oil price, the U.S. and oil companies refused. When the price of gasoline sky rocketted, the Saudi's dumped more oil on the market. Did the price go way down? No. Why? The oil companies did not miss a step. They said that REFINERIES were MAXED OUT. I.E. all of the oil on the market doesn't mean anything if you haven't the capacity to process it into the end product. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

09-05-2006, 08:39 AM	#18
RF_Erick Confirmed User Join Date: Oct 2005 Location: Baltimore,Md Posts: 946	Gas prices are doing down.. Elections in 2 months.. hmmmmm __________________ Exclusive Reality Feeds - [email protected] - ICQ: 4144516

09-05-2006, 06:26 PM	#20
minusonebit So Fucking Banned Join Date: Feb 2006 Location: [email protected] Posts: 7,391	Its still $2.40 a gallon overpriced. Its not worth more than about $0.20 a gallon. I should be able to fill my tank up for $5.

09-05-2006, 06:27 PM	#21
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	It will be years before that oil field can be fully exploited. __________________ Boner Money

09-05-2006, 08:00 PM	#22
reynold Too lazy to set a custom title Join Date: Oct 2002 Location: Global Traveler Posts: 51,271	I hope it'll be enough to sustain the country's demand for years.