How much oil is estimated to be in the gulf of Mexico?

1 Answer

  • 1 decade ago
    Favorite Answer

    U.S. Oil Reserves Get a Big Boost

    Chevron-Led Team Discovers Billions of Barrels in Gulf of Mexico's Deep Water ------------- BP's discovery is the latest in what's called the "lower tertiary" region, an ancient section of rock in the Gulf that is roughly 300 square miles and formed between 24 million and 65 million years ago.

    Chevron Corp. drilled one of the first wells in the region in 2001, followed by more than a dozen others from companies such as Royal Dutch Shell, Australian oil company BHP Billiton, BP and Total SA, according to the U.S. Department of Interior's Minerals Management Service.

    In 2006, Chevron estimated that the lower tertiary holds between 3 billion and 15 billion barrels. But it has taken years to develop wells for commercial use. -------------

    his team is sitting on several new record-breaking discoveries in the Gulf, a region that many geologists believe may have more untapped oil reserves than any other part of the world.

    Read More

    Even better, a recent discovery by Chevron has signaled that soon there may be vastly more oil gushing out of the ultradeep seabeds — more than even the optimists were predicting four years ago. In 2004, the company penetrated a 60 million-year-old geological stratum known as the "lower tertiary trend" containing a monster oil patch that holds between 3 billion and 15 billion barrels of crude.

    Read More

    all the rest (1,734,000 barrels per day) comes from the Gulf of Mexico. 19,000 barrels of that is from the state waters of Louisiana and TX, and the rest is from the Federal waters of the Gulf.

    So the total percentage of US oil that comes from the offshore Gulf of Mexico is just under 32%. ---------- Gulf of Mexico

Still have questions? Get your answers by asking now.