The U.S. Minerals Management Service (MMS) tallies 12 discoveries announced by the industry in the ultra-deepwater Lower Tertiary trend in the Gulf of Mexico. The finds, which have sparked widespread interest in the emerging play, have been made at subsea depths ranging from 15,000 to 30,000 feet. The initial discoveries were drilled in 2001 and 2002 in the Alaminos Canyon and Walker Ridge areas, and the trend has expanded to include the Keathley Canyon area. Lower Tertiary potential could extend across a 300-mile-wide area and encompass 3,000 offshore blocks. The play made headlines recently as Chevron Corp. and Devon Energy Corp. reported their Jack #2 well results, which suggest the play consists of billions of barrels of oil. For more on this, see the November issue of Oil and Gas Investor. For a subscription, call 713-260-6441.
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