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Page added on October 5, 2012
Mexico Finds Second Oil Deposit in Deep Waters of Gulf
Mexico’s state-owned oil company Petroleos Mexicanos, or Pemex, has found a second significant crude-oil deposit in the deep waters of the Gulf of Mexico, President Felipe Calderon said Friday.
With the new “Supremo” deposit, Pemex expects to book new oil reserves of up to 125 million barrels, using the broadest measurement of proven, probable and possible, or 3P, reserves, Mr. Calderon said at a press conference.
The Supremo exploratory well is 250 kilometers east of the Gulf port of Matamoros on the border with the U.S. and 40 kilometers south of Mexico’s maritime border with the U.S., Mr. Calderon said.
The well was drilled in 2,900 meters of water and is 1,100 meters below the sea floor, making it one of the deepest wells ever drilled in the Gulf of Mexico, the Mexican president added.
The discovery follows one of light crude unveiled in late August in the Perdido area of the Gulf, from which Pemex expects to add between 250 million and 400 million barrels of 3P crude reserves. That well was drilled in 2,500 meters of water.
7 Comments on "Mexico Finds Second Oil Deposit in Deep Waters of Gulf"
BillT on Sat, 6th Oct 2012 12:42 am
125,000,000 barrels or 15 days imports for the Us. Waste of time and resources. This would not even have made news in the Pre-Peak years. In fact, it would have been laughed at. And this was not a ‘discovery’. All oil deposits around the world have been known about for years. Some for decades, but were not profitable to recover. Desperation … not discovery.
MrEnergyCzar on Sat, 6th Oct 2012 2:57 am
Down to table scraps…
MrEnergyCzar
northstation on Sat, 6th Oct 2012 4:42 am
and how much energy will it take to extract those barrels of oil? what is the net gain? they never tell you that but given the location of the oil deep under the ocean floor, I imagine a huge amount of energy will be required to extract it. and the net energy gained will be far less than 125 million barrels.
KingM on Sat, 6th Oct 2012 12:11 pm
What great points, guys. That’s a mere 12.5 billion dollars worth of oil down there. What fools they are to look for such piddly little drips of oil. It’s not worth it unless you can find at least 30 billion barrels at a time.
BillT on Sat, 6th Oct 2012 1:49 pm
kingM, it does not matter if oil is getting $1,000,000.00 per barrel if it takes 1 barrel of oil to recover 1 barrel. Actually, the pumps will stop long before that point. EROEI.
KingM on Sat, 6th Oct 2012 10:21 pm
I’m not an absolute moron, I’ve been around PO for years. But this isn’t the first well in the Gulf of Mexico. I’m pretty sure they won’t start to drill unless there’s a positive return.
Norm on Sun, 7th Oct 2012 8:52 am
The point is that little deposits like that wont keep civilization running. Maybe there is $12.5 Billion of oil down there, but its a tiny amount that does not keep civilization going. So then hope you don’t mind if civilization gets cancelled.