An Angolan official confirmed Pertamina is in talks with Exxon to buy the stake in Block 31, in the so-called ultradeep waters off Angola. ❋ Alison Tudor (2011)
It is located in a region of the Gulf known as the ultradeep Miocene formation, where the energy industry has made several large finds in recent years, including the ill-fated Macondo field discovered by BP, which leaked millions of barrels of oil into the Gulf. ❋ Isabel Ordonez (2010)
And Browne says that the maximum daily fee BP pays to lease rigs capable of drilling in "ultradeep" water (more than 1,500 meters) has risen from $200,000 to $500,000 since 2004. ❋ Unknown (2007)
HOUSTON— Chevron Corp. said Tuesday it has made an oil discovery in the Gulf of Mexico ultradeep water, enlarging the list of finds the energy industry has recently announced in the region. ❋ Isabel Ordonez (2011)
He said Brazil's toughness may backfire by cooling oil-company interest for working in Brazil, while creating a false expectation that Brazil's massive foray into ultradeep water will be accident free. ❋ John Lyons (2011)
Brazil has discovered some of the world's biggest oil finds in decades lying in ultradeep water, below miles of rock and hard-to-drill salt. ❋ John Lyons (2011)
BEIJING—China plans an ultradeep dive by a manned submersible beneath the Pacific that would propel it past the U.S. in a race to explore potentially vast mineral resources in the deepest parts of the world's oceans. ❋ Jeremy Page (2011)
ONGC Videsh Ltd., the overseas investment arm of oil and gas explorer ONGC, had submitted a binding bid to acquire a 25% stake in the Block 31 ultradeep oil block in Angola, the Indian government said in December. ❋ Eric Yep (2011)
Each new ultradeep well brought online will net XXI the equivalent of 2,100 barrels of oil per day. ❋ Christopher Helman (2010)
Mr. McKay said no conclusions should be drawn before an investigation is complete, but "we've not dealt with a situation like this before" involving drilling in ultradeep waters 5,000 feet below sea level. ❋ Unknown (2010)
McMoRan and XXI have 12 more untested ultradeep prospects they plan to drill in the years to come, as well as some even deeper targets in Blackbeard that could set the record for deepest well in the world. ❋ Christopher Helman (2010)
The federal government's new Bureau of Ocean Energy Management feels confident enough that it granted XXI and McMoRan the only new ultradeep permit since BP's disaster -- to start drilling another prospect called Lafitte in October. ❋ Christopher Helman (2010)
With these potentially mammoth ultradeep, shallow-water discoveries, McMoRan and XXI could soon lure in the supermajors seeking a replacement for the deepwater game that BP complicated. ❋ Christopher Helman (2010)
"You can drill 20 shale gas wells for the same time and expense of one ultradeep well," says Michael Bodino, analyst with Global Hunter Securities. ❋ Christopher Helman (2010)
Which raises the question: How is it that these guys get off drilling ultradeep wells in the Gulf when every other operator has been stymied by Washington's drilling moratorium or scared out of the water altogether, unwilling or unable to stomach tightening regulation and soaring insurance rates? ❋ Christopher Helman (2010)
So Schiller agreed to take some of the cash he was making from Laphroaig and reinvest it in two ultradeep wells -- a roughly $40 million commitment. ❋ Christopher Helman (2010)
Pile on the 12 other ultradeep prospects they plan to drill, and the prize climbs to 100 trillion -- enough to supply the whole of U.S. demand for four years, the energy equivalent of roughly 15 billion barrels of oil. ❋ Christopher Helman (2010)
Add the potential of Davy Jones to that of their similarly ultradeep Blackbeard discovery where results from a second well are expected "any day now" and Schiller thinks he's looking at 10 trillion cubic feet. ❋ Christopher Helman (2010)
