Exxon Announces Gulf of Mexico Oil Find:...
From Times Staff and Wire Reports
Exxon Announces Gulf of Mexico Oil Find: Exxon Corp. announced a potentially large oil and gas discovery in the Gulf of Mexico that would require the company to extract from an underwater well about four times as deep as any current Exxon production. Exxon estimated that the well in the Mississippi Canyon, about 50 miles off the coast of Louisiana, has potential reserves of oil and gas that would be equivalent to between 100 million and 200 million barrels of oil.
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