ExxonMobil Makes Major Oil And Gas Discovery
Louisiana Department of Natural Resources Secretary Scott Angelle announces ExxonMobil Corporation has made the first major post-moratorium oil and gas discovery in the Gulf of Mexico. ExxonMobil estimates this discovery will produce more than 700 million barrels of oil, making this one of the largest discoveries in the Gulf in the last decade. ExxonMobil is utilizing several Louisiana companies to support the exploration activity, including Lafayette-based PHI, Incorporated for helicopter travel. The well is located 250 miles southwest of New Orleans in about 7,000 feet of water.
"I’m not surprised Exxon found oil where it said it would find oil. If BOEMRE would be more proactive in removing barriers rather than impeding the permitting process – especially when it involves companies who have proven to drill safely in the Gulf of Mexico like Exxon, then we would be further down the road in weaning America off foreign oil and reducing our energy prices."