oracle
02-11-2003, 03:14 AM
Gulf field getting $1.1 billion infusion (http://www.chron.com/cs/CDA/story.hts/business/1773166)
By NELSON ANTOSH
Copyright 2003 Houston Chronicle
BHP Billiton of Australia has agreed to spend $1.1 billion to develop its share of the Atlantis field in the deep waters of the Gulf of Mexico, and it also announced another big well in that field 125 miles south of New Orleans.
Atlantis is believed to be the third-largest oil and gas field ever discovered in the Gulf. It ranked among the 50 largest of the 31,000 fields found in the United States even before Monday's announcement about the discovery of thick zones holding oil and gas found by an appraisal well.
BP, owner of 56 percent of Atlantis and its operator, has not disclosed the size of its investment but said initially that the field's total would exceed $2 billion, according to spokesman Larry Thomas of Houston.
Last May, BHP Billiton agreed to spend $355 million for early stage work and now has added $746 million.
...
Click here to read more (http://www.chron.com/cs/CDA/story.hts/business/1773166)
By NELSON ANTOSH
Copyright 2003 Houston Chronicle
BHP Billiton of Australia has agreed to spend $1.1 billion to develop its share of the Atlantis field in the deep waters of the Gulf of Mexico, and it also announced another big well in that field 125 miles south of New Orleans.
Atlantis is believed to be the third-largest oil and gas field ever discovered in the Gulf. It ranked among the 50 largest of the 31,000 fields found in the United States even before Monday's announcement about the discovery of thick zones holding oil and gas found by an appraisal well.
BP, owner of 56 percent of Atlantis and its operator, has not disclosed the size of its investment but said initially that the field's total would exceed $2 billion, according to spokesman Larry Thomas of Houston.
Last May, BHP Billiton agreed to spend $355 million for early stage work and now has added $746 million.
...
Click here to read more (http://www.chron.com/cs/CDA/story.hts/business/1773166)