Friday, June 20, 2008

More Oil & Gas stuff

I read this article last week in Calgary called "The Cost of the Next Barrel of Oil." The article is now only pay-per-view and/or available through google cache, but the really interesting part of the article is here. It talks about where oil companies are going to look for the next barrel, the issues, struggles, successes, and results of it, and some of the trends going on. Example:

"Cost of technology in the Gulf of Mexico: The added depth adds to the cost. While it costs around $1-million (U.S.) a day to hire a rig to explore in shallow water, Chevron is spending about $1.6-million a day for a deep-water drill ship to work on its Tahiti prospect; it costs around $200-million to drill a single well in the area. Analysts estimate that to produce a barrel of crude from the ultradeep area would cost above $50 a barrel."

It's definitely worth a read, but click fast -- who knows when it will turn into pay-per-view only.

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