BP Announces Gulf of Mexico Discovery

abarrelfullabarrelfull wrote on 02 May 2014 11:58

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31 August 2006

BP America Inc., announced today an oil discovery on an exploration well which tested the Kaskida prospect in the Gulf of Mexico. The well, located on Keathley Canyon block 292, is in about 5,860 feet of water and is about 250 miles southwest of New Orleans. Kaskida was drilled to a total depth of approximately 32,500 feet in the lower tertiary and encountered 800 net feet of hydrocarbon-bearing sands.

"Appraisal will be required to determine the size and commerciality of the discovery," said David Rainey, Vice President Gulf of Mexico Exploration. "We expect to return to Kaskida later this year to commence appraisal activity." The well is operated by BP Exploration & Production Inc., a wholly owned subsidiary of BP America Inc., with a 55 percent working interest, and includes co-owners Anadarko Petroleum Corporation with a 25 percent working interest, and Devon Energy Corporation with a 20 percent working interest. The lease was acquired at federal OCS Lease Sale 187 in August 2003.

BP is one of the world's largest energy companies, with interests in more than 100 countries and over 96,000 employees across six continents. BP’s business segments are Exploration and Production; Refining and Marketing; and Gas, Power and Renewables which includes its Alternative Energy business. Through these business segments, BP provides fuel for transportation, energy for heat and light, retail services, and petrochemicals products.

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