Subscribe free to our newsletters via your
. Oil and Gas News .




OIL AND GAS
Chevron finds oil in Gulf of Mexico
by Daniel J. Graeber
San Ramon, Calif. (UPI) Jan 6, 2015


disclaimer: image is for illustration purposes only

U.S. energy company Chevron said its latest major oil discovery in the Gulf of Mexico anchors its position as a global leader in deep water activity.

The company said it made what it described as a "significant" oil discovery at the Anchor prospect in the deep waters of the Gulf of Mexico, its second such discovery in less than a year.

"We had one of our best years with the drill bit in 2014, reporting more than 30 discoveries worldwide and adding an estimated 1 billion barrels of new resources to our holdings," Jay Johnson, a vice president in charge of exploration and production operations, said in a statement.

The company in early December announced crude oil production started at the Jack/St. Malo project in the deep waters of the U.S. Gulf of Mexico, one of the region's largest. Chevron said the first development stage should yield as much as 94,000 barrels of oil per day.

With current technologies, the company said it expects to recover more than 500 million barrels of oil equivalent over the 30-year lifespan of the Jack/St. Malo project.

Chevron said it has five drilling rigs operating in the U.S. waters of the Gulf of Mexico, two of which are designated for exploration work.

The company said it's in the process of appraising the reserve capacity of the Anchor discovery.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
Riyadh holds to oil line, prices drop further
New York (UPI) Jan 6, 2015
Word that OPEC kingpin Saudi Arabia would defend its economic interests sent an already battered oil market into a tailspin during the Tuesday session. Crude oil prices suffered major losses Monday, with the price for the U.S. benchmark, West Texas Intermediate, and Brent, the global benchmark, reaching five-year lows. Oil prices are about 50 percent lower than they were in June ... read more


OIL AND GAS
Energy companies investing in one another

House vows to deliver on energy promises

How Climate Change Could Leave Cities in the Dark

NYC owners should tap energy and economic benefits of cogeneration

OIL AND GAS
Tokyo 2020 Olympic Village to be hydrogen-powered: report

Chinese power companies pursue smart grids

Bettter rechargeable batteries by focusing on graphene oxide paper

Making a Good Thing Better for Lithium Ion Batteries

OIL AND GAS
EPA wants cleaner wood-burning fires, new rules expected by February

Plant genetic advance could lead to more efficient conversion of plant biomass to biofuels

Guelph Researchers Recipe: Cook Farm Waste into Energy

Conversion process turns biomass 'waste' into lucrative chemical products

OIL AND GAS
Russia Slams Kiev for Switching to US Supplies of Nuclear Fuel

Russia's Nuclear Development in 2014

Indian NPP's first unit begins commercial operation

Over 3,700 Fukushima Evacuees Yet to Claim Compensation

OIL AND GAS
Soil's large carbon stores could be freed by increased plant growth

Climate change: In 2015, the long march to Paris

Belize blue hole helps explain collapse of ancient Mayan civilization

Massive study provides first detailed look at how Greenland's ice is vanishing

OIL AND GAS
BMW to pay subsidies Chinese dealers: report

Innate behavior determines how we steer our car

Toyota to give away fuel-cell patents to boost industry

Volvo acquires 45 percent of Chinese vehicle maker

OIL AND GAS
Gunmen kill three Sunni clerics in south Iraq

Iran in new deal to boost Iraq army

Iraq violence killed 15,000 in 2014, worst in 7 years: govt

US aims to quickly train Iraq forces for anti-IS fight

OIL AND GAS



The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.