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    Mexico Hits Huge Black Gold ~ Texas Tea Reserve


    Pemex estimates that its Gulf reserves may hold as much as 27 billion barrels of petroleum.
    “This is a great discovery,” Calderon said in announcing the find by Petroleos Mexicanos, or Pemex, beneath more than 8,300 feet of water and miles of earth, the first successful well in a system that he said ultimately may hold as much as 10 billion barrels of oil.
    Pemex has been scrambling in recent years to replace the sharp production declines in the Cantarell offshore field at the foot of the Gulf. Earlier deep water attempts have either produced dry wells or natural gas that’s uneconomical to exploit at current prices.
    Fuel Fix » Mexico details Gulf oil find


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    Re: Mexico Hits Huge Black Gold ~ Texas Tea Reserve

    "thats the equivilent of like only 2k temp jobs pish posh"


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    Re: Mexico Hits Huge Black Gold ~ Texas Tea Reserve

    I bet 27 billion will last us 5 mins....


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    Re: Mexico Hits Huge Black Gold ~ Texas Tea Reserve

    Quote Originally Posted by Go2Guy View Post

    Pemex estimates that its Gulf reserves may hold as much as 27 billion barrels of petroleum.
    “This is a great discovery,” Calderon said in announcing the find by Petroleos Mexicanos, or Pemex, beneath more than 8,300 feet of water and miles of earth, the first successful well in a system that he said ultimately may hold as much as 10 billion barrels of oil.
    Pemex has been scrambling in recent years to replace the sharp production declines in the Cantarell offshore field at the foot of the Gulf. Earlier deep water attempts have either produced dry wells or natural gas that’s uneconomical to exploit at current prices.
    Fuel Fix » Mexico details Gulf oil find
    So now the drug cartel will be in the oil business along with the drug business. Dang maybe we should give them New Mexico and we should take Mexico.



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    Re: Mexico Hits Huge Black Gold ~ Texas Tea Reserve

    Quote Originally Posted by Cycl1 View Post
    I bet 27 billion will last us 5 mins....
    I think it's more like 4-years, based on ~18 MM BBLS we currently consume per day. And Mexico uses 9x less than we do, so this is a major find for PEMEX.


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    Re: Mexico Hits Huge Black Gold ~ Texas Tea Reserve

    Quote Originally Posted by Go2Guy View Post
    I think it's more like 4-years, based on ~18 MM BBLS we currently consume per day. And Mexico uses 9x less than we do, so this is a major find for PEMEX.
    Yeah, i figured it was actually something fairly substantial. I would venture we are increasing consumption though, and that 18 mil is going up.


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