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BP p.l.c. Message Board

  • balak_joshi balak_joshi Sep 7, 2011 3:49 PM Flag

    BP Raises Estimate

    BP Raises Estimate of Gulf Discovery
    .Article Stock Quotes Comments more in Business ».Dow Jones Reprints: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit www.djreprints.com
    See a sample reprint in PDF format. Order a reprint of this article now BUSINESSSEPTEMBER 7, 2011, 3:22 P.M. ET.BP Raises Estimate of Gulf Discovery .
    BY ALEXIS FLYNN AND RAZAK MUSAH BABA ABERDEEN, Scotland—BP PLC said on Wednesday one of the company's first wells drilled in the Gulf of Mexico since last year's Deepwater Horizon disaster has yielded oil in a previously untested area, suggesting a much larger discovery than had been thought.
    "With these additional hydrocarbon resources north of the main field," said BP Chief Executive Bob Dudley, the discovery "has been firmly established as a giant field in BP's Gulf of Mexico portfolio." It now estimates the field to hold up to the equivalent of 4 billion barrels of oil and natural gas.
    The well, drilled by BHP Billiton on ...


    BY ALEXIS FLYNN AND RAZAK MUSAH BABA
    ABERDEEN, Scotland—BP PLC said on Wednesday one of the company's first wells drilled in the Gulf of Mexico since last year's Deepwater Horizon disaster has yielded oil in a previously untested area, suggesting a much larger discovery than had been thought.

    "With these additional hydrocarbon resources north of the main field," said BP Chief Executive Bob Dudley, the discovery "has been firmly established as a giant field in BP's Gulf of Mexico portfolio." It now estimates the field to hold up to the equivalent of 4 billion barrels of oil and natural gas.

 
BP
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