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Mexico makes large offshore oil find

Fox News -- Mexican state-owned oil giant Petroleos Mexicanos, or Pemex, has made a large deep-water light crude discovery in the Gulf of Mexico off the coast of the northeastern state of Tamaulipas, President Felipe Calderon said Wednesday.

Calderon did not quantify how much the Trion 1 exploration well might produce but Pemex sources say they expect to certify 350 million barrels of crude from the find and that total reserves at deposits in Mexico's Perdido Fold Belt - where the discovery was made - could amount to as much as 10 billion barrels.

The oil discovery - which was made with the Bicentenario rig and is the first in Mexico's deep-water region - is an "important achievement" that "further strengthens" Pemex, Calderon said in a ceremony at the Los Pinos presidential residence.

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Submitted Aug 30, 2012 By: BurntOrange

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gabfiore Sophomore Author San Diego Posts:151 Points:90,225 Joined:Apr 2012	Message Posted: Sep 1, 2012 5:44:37 PM Ignore gabfiore Report Abuse I hope this is good news for us folks locally in San Diego...after all, we are neighbors! No matter where we live, we all need some relief, and once prices become more 'tolerable' there may be more useage at the pumps. Perhaps...
Soglaos Champion Author Virginia Beach Posts:2,851 Points:765,405 Joined:Feb 2011	Message Posted: Sep 1, 2012 4:57:12 PM Ignore Soglaos Report Abuse Repeat Thank you
milespergallon Champion Author Illinois Posts:9,885 Points:1,936,060 Joined:Feb 2007	Message Posted: Aug 31, 2012 9:12:41 PM Ignore milespergallon Report Abuse ok
MusicalMan7 All-Star Author Ohio Posts:597 Points:93,430 Joined:Apr 2012	Message Posted: Aug 31, 2012 3:09:02 PM Ignore MusicalMan7 Report Abuse Well, bully for them. Maybe they'll ship us some cheap, seeing as how we're NAFTA neighbors and all.
bikerchicklette Champion Author Washington Posts:5,889 Points:1,300,745 Joined:Sep 2005	Message Posted: Aug 31, 2012 9:44:11 AM Ignore bikerchicklette Report Abuse ok
1006 Champion Author Birmingham Posts:1,106 Points:1,371,110 Joined:Apr 2008	Message Posted: Aug 31, 2012 6:42:58 AM Ignore 1006 Report Abuse the mexican prices are too high, our refiners would rather buy from canada - cheaper & better, just cannot get here (no pipeline)
miiike572 All-Star Author Phoenix Posts:798 Points:545,440 Joined:Apr 2009	Message Posted: Aug 30, 2012 10:40:02 PM Ignore miiike572 Report Abuse I wonder if Barry will give them a large sum of taxpayer money so they can turn around and sell the oil to us at our expense.
me2002 All-Star Author Toledo Posts:763 Points:319,205 Joined:Dec 2011	Message Posted: Aug 30, 2012 10:36:35 PM Ignore me2002 Report Abuse Nice for them. Just wait til we have to pay to clean up their mess.
kellyoneal Champion Author Louisville Posts:2,544 Points:731,840 Joined:Mar 2011	Message Posted: Aug 30, 2012 10:34:26 PM Ignore kellyoneal Report Abuse Ok
DEG Champion Author Las Vegas Posts:17,745 Points:3,519,480 Joined:Jul 2003	Message Posted: Aug 30, 2012 10:33:36 PM Ignore DEG Report Abuse Too bad that the tree-huggers and the Obama administration have done their best to hinder the US oil exploration and developments.
Quick68 Champion Author Columbus Posts:8,448 Points:1,253,500 Joined:Dec 2009	Message Posted: Aug 30, 2012 10:30:43 PM Ignore Quick68 Report Abuse All the world is making oil finds but the US.
goldrose1 Champion Author Cleveland Posts:11,071 Points:1,949,605 Joined:Feb 2005	Message Posted: Aug 30, 2012 10:28:30 PM Ignore goldrose1 Report Abuse yeah!
bonzoonfmb Champion Author Florida Posts:1,817 Points:664,910 Joined:Feb 2010	Message Posted: Aug 30, 2012 10:24:26 PM Ignore bonzoonfmb Report Abuse Just keep your petroleum off from my beaches.
unicornIL Veteran Author Chicago Posts:451 Points:393,570 Joined:Jan 2012	Message Posted: Aug 30, 2012 10:23:27 PM Ignore unicornIL Report Abuse ok
carman11 Champion Author North Carolina Posts:3,480 Points:719,425 Joined:Jun 2011	Message Posted: Aug 30, 2012 10:22:17 PM Ignore carman11 Report Abuse OK
urban_dweller Champion Author Orlando Posts:1,840 Points:72,685 Joined:May 2006	Message Posted: Aug 30, 2012 10:21:33 PM Ignore urban_dweller Report Abuse Texasvet, mexico has ZERO experience in deep-water production, and their Constitution doesn't allow foreign partnerships. Don't hold your breath.
knot2swift Champion Author Calgary Posts:4,506 Points:717,735 Joined:Nov 2009	Message Posted: Aug 30, 2012 10:14:18 PM Ignore knot2swift Report Abuse Let's put some things in prospective.... The world is consuming a bit over 75 million barrels a day of oil PERIOD! The well that is producing 350 million barrels (certified) will will keep the world supplied for at more than 4 1/2 days all by itself. Meanwhile boasting of a 10 billion barrel potential in the region ( if true) will keep the world happy for a whole 133 1/3 days all by itself. Less than a third of a year! Finds these day are really getting small. There is trillions of barrels in the US mid west but it's all trapped in shale deposits. Now there's some to " Friggin Frac About" when it comes to real news.
DABEE1073 Champion Author San Diego Posts:8,350 Points:1,599,810 Joined:Jun 2008	Message Posted: Aug 30, 2012 10:13:46 PM Ignore DABEE1073 Report Abuse THANK YOU TO ALL OF YOU MORONS THAT VOTED FOR obummer. FIRE THE BUM IN NOVEMBER. CLEAN HOUSE IN WASHINGTON. VOTE SMART.
TJC47 Champion Author Indianapolis Posts:6,429 Points:1,168,285 Joined:May 2008	Message Posted: Aug 30, 2012 10:11:39 PM Ignore TJC47 Report Abuse Let's tap into it!
texasvet Champion Author Texas Posts:3,890 Points:364,345 Joined:Jul 2009	Message Posted: Aug 30, 2012 10:08:22 PM Ignore texasvet Report Abuse Well, Mexico allows deep water exploration. Obama doesn't approve of it.
76chevy Champion Author Toledo Posts:4,023 Points:778,620 Joined:Jun 2010	Message Posted: Aug 30, 2012 10:05:32 PM Ignore 76chevy Report Abuse If only we had a good president, we would have more oil from the gulf.
ericbcire Champion Author Nevada Posts:4,660 Points:1,295,035 Joined:Aug 2009	Message Posted: Aug 30, 2012 10:04:01 PM Ignore ericbcire Report Abuse Good for them
jimedB All-Star Author Riverside Posts:535 Points:87,690 Joined:Jun 2012	Message Posted: Aug 30, 2012 10:03:01 PM Ignore jimedB Report Abuse If we had made this kind of find drilling would not be allowed. Get it out while you can.
Rayman71 Champion Author Ontario Posts:2,040 Points:656,910 Joined:Aug 2008	Message Posted: Aug 30, 2012 10:01:40 PM Ignore Rayman71 Report Abuse very nice...too bad it's in deep water....
ican2step Champion Author Pittsburgh Posts:1,811 Points:452,400 Joined:Feb 2012	Message Posted: Aug 30, 2012 10:01:05 PM Ignore ican2step Report Abuse Congrats neighbor.
drobbbb Champion Author Maryland Posts:3,590 Points:837,760 Joined:Dec 2010	Message Posted: Aug 30, 2012 10:00:47 PM Ignore drobbbb Report Abuse good
RevDrCBJ Veteran Author Ann Arbor Posts:385 Points:192,825 Joined:Jul 2011	Message Posted: Aug 30, 2012 10:00:22 PM Ignore RevDrCBJ Report Abuse Glad for the potential wealth for the country
jodybull All-Star Author El Paso Posts:767 Points:140,880 Joined:May 2012	Message Posted: Aug 30, 2012 10:00:13 PM Ignore jodybull Report Abuse Maybe the cartels should start killing their citizens by the thousands for oil instead of the lucrative drugs' gateways into the U.S.
30mpg80 Champion Author Lexington Posts:10,265 Points:1,514,580 Joined:Nov 2008	Message Posted: Aug 30, 2012 9:59:52 PM Ignore 30mpg80 Report Abuse Good for them, but unfortunate that it is below deep water
petrpuck All-Star Author Hamilton Posts:569 Points:440,135 Joined:Nov 2011	Message Posted: Aug 30, 2012 9:59:41 PM Ignore petrpuck Report Abuse Si Senor
WIPACKERFAN Champion Author Chicago Posts:8,944 Points:1,871,150 Joined:Aug 2005	Message Posted: Aug 30, 2012 9:55:58 PM Ignore WIPACKERFAN Report Abuse OK
visitor_2 Champion Author Orlando Posts:1,653 Points:1,657,700 Joined:Aug 2006	Message Posted: Aug 30, 2012 9:53:06 PM Ignore visitor_2 Report Abuse could have been the US thanks Prez
gass12 Champion Author Omaha Posts:8,528 Points:2,331,395 Joined:Oct 2005	Message Posted: Aug 30, 2012 9:52:54 PM Ignore gass12 Report Abuse They need it.
nightworker998 Champion Author Maryland Posts:1,907 Points:688,915 Joined:Mar 2009	Message Posted: Aug 30, 2012 9:51:57 PM Ignore nightworker998 Report Abuse Do we see another BP disaster in our future?
DrLyon Champion Author Michigan Posts:6,769 Points:1,238,615 Joined:May 2006	Message Posted: Aug 30, 2012 9:51:55 PM Ignore DrLyon Report Abuse Keep going...
Bonito Champion Author Dayton Posts:15,916 Points:3,035,595 Joined:Jun 2004	Message Posted: Aug 30, 2012 9:50:00 PM Ignore Bonito Report Abuse GOOD for them!
GoneUpAgain Champion Author Atlanta Posts:7,769 Points:1,371,955 Joined:May 2004	Message Posted: Aug 30, 2012 9:48:24 PM Ignore GoneUpAgain Report Abuse @TxRyder - Americans can't afford to work for $5/day.
Ayeghoti Champion Author Michigan Posts:2,530 Points:368,380 Joined:Aug 2007	Message Posted: Aug 30, 2012 9:48:21 PM Ignore Ayeghoti Report Abuse ok
Lugi1967 Champion Author Ohio Posts:4,916 Points:1,029,460 Joined:Jun 2010	Message Posted: Aug 30, 2012 9:47:09 PM Ignore Lugi1967 Report Abuse Woww great find
hammer219115 Veteran Author Pennsylvania Posts:411 Points:22,950 Joined:Aug 2006	Message Posted: Aug 30, 2012 9:45:28 PM Ignore hammer219115 Report Abuse Hmmmm
TXryder Champion Author Texas Posts:2,854 Points:460,510 Joined:Jan 2012	Message Posted: Aug 30, 2012 9:44:26 PM Ignore TXryder Report Abuse Maybe some of the U.S. unemployed can swim over there and get a job as illegal alien.
heysailor Champion Author Pittsburgh Posts:9,717 Points:2,360,145 Joined:Mar 2006	Message Posted: Aug 30, 2012 9:42:20 PM Ignore heysailor Report Abuse Good news
IUVidiot Champion Author Indiana Posts:3,725 Points:736,160 Joined:Jun 2011	Message Posted: Aug 30, 2012 9:41:51 PM Ignore IUVidiot Report Abuse Maybe they will share
scubadaniel Champion Author Dayton Posts:1,556 Points:719,525 Joined:Jan 2011	Message Posted: Aug 30, 2012 9:39:18 PM Ignore scubadaniel Report Abuse Our administration will probably give a couple billion of our money to develop the find. Meanwhile, they hold up drilling here..
davenles Champion Author Texas Posts:3,336 Points:746,360 Joined:May 2011	Message Posted: Aug 30, 2012 9:39:16 PM Ignore davenles Report Abuse Maybe it can replace some of the light crude from Venezuela.
sneadmd Sophomore Author Dayton Posts:217 Points:221,975 Joined:Feb 2012	Message Posted: Aug 30, 2012 9:39:06 PM Ignore sneadmd Report Abuse Interesting
NGEFE Veteran Author Provo Posts:344 Points:480,650 Joined:Jun 2011	Message Posted: Aug 30, 2012 9:29:42 PM Ignore NGEFE Report Abuse Yeah - just imagine what is under all that!!!
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Aug 30, 2012 9:27:34 PM Ignore sammy518 Report Abuse and the rich government officials get richer while their citizens live in cardboard and tin lean-too's
darkknight1 Champion Author Winston-Salem Posts:4,475 Points:923,535 Joined:Nov 2010	Message Posted: Aug 30, 2012 9:27:17 PM Ignore darkknight1 Report Abuse So does that mean there will be a migration back to Mexico?
200porter Champion Author Toronto Posts:2,200 Points:569,610 Joined:Sep 2011	Message Posted: Aug 30, 2012 9:27:17 PM Ignore 200porter Report Abuse Good for them.