Premier eFinance: Exxon Mobil makes major Gulf of Mexico oil find.

In the biggest discovery in the region in 12 years ExxonMobil says it has found the equivalent of 700 million barrels of oil beneath the Gulf of Mexico.
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June 8, 2011 - PRLog -- Exxon Mobil has informed Premier eFinance that it has made one of the biggest oil discoveries in years in the Gulf of Mexico in its first drilling since the US lifted a deepwater exploration ban in October last year.

The US oil major called the find "one of the largest oil discoveries in the Gulf of Mexico in the last decade," with a potential for over 700 million barrels of recoverable oil-equivalent.

The Hadrain discovery is believed to be the biggest in the region since BP’s 1 billion-barrel Thunder Horse find in 1999.
An Exxon spokesman, Patrick McGinn told Premier eFinance that Exxon engineers are now drilling deeper on the third Hadrian well, which at present extends 23,000 feet beneath the sea surface, as they believe there is more oil to be found.

The drilling was in Keathley Canyon, situated about 400 kilometers southwest of New Orleans, Louisiana.

"As one of the largest lease holders in the Gulf of Mexico with interests in over 370 leases, we are committed to the continued safe exploration and development of this important national resource," Steve Greenlee, president of ExxonMobil's exploration arm informed Premier eFinance.

The United States banned deepwater drilling in the Gulf after the April 2010 explosion on the BP-leased Deepwater Horizon platform which killed 11 oilrig workers and sent some 4.9 million barrels of oil gushing into the Gulf in three months, the largest manmade environmental disaster in US history.

The US allowed drilling to resume in the gulf on October 12 after imposing stringent new safety conditions on operators.

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