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What’s Really Underneath The Oil Spill? June 25, 2010

Posted by tkcollier in Business, Enviroment.
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Among oil industry watchers there has been a great deal of information about the size of the field under the big spill. Respected industry watchers have said that there is good reason to expect that the field extends many miles deep underground and horizontally from the site of the spill.

In the past few years, seismic studies and drilling results from deep beneath the Gulf are leading many informed sources to believe the total oil available under the Gulf of Mexico, in the area around BP’s Macondo well (which was originally expected to have about 50 million barrels of recoverable oil) may contain billions of barrels of oil. It is early to make an informed analysis, but the Macondo well blowout may indicate that these Gulf of Mexico fields, located in deep water about 50 miles offshore and under another 20,000 to 35,000 of rock below the seabed, represent a massive oil discovery.

via Guild Global Market Commentary :: Guild Investment Management, Inc. | MyNewsletterBuilder.

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