[lbo-talk] Mo oil, mo oil, mo oil ...

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Tue Sep 5 12:14:08 PDT 2006


http://biz.yahoo.com/ap/060905/major_oil_discovery.html

AP U.S. Oil Reserves Could Grow by 50 Pct. Tuesday September 5, 1:30 pm ET By Brad Foss, AP Business Writer

Successful Test Well in Gulf of Mexico Means U.S. Oil Reserves Could Grow More Than 50 Percent

WASHINGTON (AP) -- Results from a deep-water test well in the Gulf of Mexico suggest a new pool of oil and gas that could boost U.S. reserves by as much as 50 percent.

Chevron Corp. on Tuesday estimated the 300-square-mile region where its test well sits could hold between 3 billion and 15 billion barrels of oil and natural gas liquids. Analysts are calling it the most significant domestic discovery since Alaska's Prudhoe Bay more than a generation ago.



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