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Chevron hits oil in major Gulf of Mexico well

MrBrianMrBrian Posts: 2,673
edited September 2006 in A Moving Train
By Mark McSherry
Tue Sep 5, 10:19 AM ET

NEW YORK (Reuters) - Three oil companies, led by Chevron Corp. (NYSE:CVX - news), have successfully drilled for oil in the Gulf of Mexico's deep waters, suggesting there may be more oil in the region that already provides a quarter of U.S. output, the companies said on Tuesday

"This is very important for Chevron, but it is more important for its other partners -- pound-for-pound, Devon gains a lot more than Chevron," said Oppenheimer & Co. analyst Fadel Gheit.

http://news.yahoo.com/s/nm/20060905/bs_nm/energy_chevron_dc
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    CosmoCosmo Posts: 12,219
    Does this mean we have to be nice to the Mexicans, now?
    Allen Fieldhouse, home of the 2008 NCAA men's Basketball Champions! Go Jayhawks!
    Hail, Hail!!!
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    tybirdtybird Posts: 17,388
    Cosmo wrote:
    Does this mean we have to be nice to the Mexicans, now?
    They already hit some oil in their waters.........maybe, maybe to your question.
    All the world will be your enemy, Prince with a thousand enemies, and whenever they catch you, they will kill you. But first they must catch you, digger, listener, runner, prince with the swift warning. Be cunning and full of tricks and your people shall never be destroyed.
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    farfromglorifiedfarfromglorified Posts: 5,696
    This is American oil. And it's a good thing. Good work Chevron.
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    even flow?even flow? Posts: 8,066
    farfromglorified wrote:
    This is American oil. And it's a good thing. Good work Chevron.


    Does this mean the Iraqi oil can go back to being theirs?
    You've changed your place in this world!
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    farfromglorifiedfarfromglorified Posts: 5,696
    even flow? wrote:
    Does this mean the Iraqi oil can go back to being theirs?

    "Go back to"???? When was it theirs?
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    MrBrianMrBrian Posts: 2,673
    even flow? wrote:
    Does this mean the Iraqi oil can go back to being theirs?

    Dude, i'm gonna pretend that I did'nt read that.

    now have a good day,
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    even flow?even flow? Posts: 8,066
    farfromglorified wrote:
    "Go back to"???? When was it theirs?


    Ooops, my bad.
    You've changed your place in this world!
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    farfromglorifiedfarfromglorified Posts: 5,696
    There's an important number in this news that a lot of people might miss:

    $3,500,000,000

    That's the total projected cost of this production project. Just a number to keep in mind five years from now when the word "windfall" gets thrown around again.
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    farfromglorifiedfarfromglorified Posts: 5,696
    even flow? wrote:
    Ooops, my bad.

    Yep, particularly considering the Iraqis now have the opportunity to actually own their oil as a people for the first time in history. If anything good comes of this idiotic war, that might just be it.
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    gabersgabers Posts: 2,787
    No no no. We are going to use the profits from Iraqi oil to pay for the war, remember?!
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    farfromglorifiedfarfromglorified Posts: 5,696
    gabers wrote:
    No no no. We are going to use the profits from Iraqi oil to pay for the war, remember?!

    Thankfully a stupid statement does not constitute a binding contract, even in the insane world known as International Law. The Iraqis are free to take their oil and tell us to fuck off. Here's to hoping they do. Or even better, they can sell it to us with a goddamn rebuilding premium.
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