posted on Mar, 22 2013 @ 06:31 PM
Everywhere we look, there's more crude.....and Ol Jed's a Millionaire again...
On Wednesday, shares of Anadarko Petroleum (APC) rose 3.7%, on news the company had made a major discovery in the deep waters of the Gulf of Mexico.
The find at the Shenandoah-2 well could produce more than 500 million barrels of crude.
Anadarko’s discovery in the Shenandoah formation isn’t an isolated event. Since 2010 Exxon Mobil (XOM) has found the 700-million barrel Hadrian
field, Royal Dutch Shell (RDS.A) has discovered the 500-million barrel Appomattox field and Chevron has found the 200-million barrel Moccasin field,
all in the Gulf of Mexico’s Lower Tertiary trend. BP (BP) estimates that its Mad Dog field could hold up to 4 billion oil-equivalent barrels.