Exxon Mobil drilling offshore in Brazil's Sergipe/Alagoas basin with a potential of a billion barrels

Wednesday, April 20th 2022 - 09:40 UTC

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United States Exxon Mobil Corp. is drilling in a new area offshore in the northeast of Brazil that could have as much as a billion barrels of oil and gas equivalent, according to its partner Murphy Oil. Read full article

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FortHay
Nice hype, but no hydrocarbons were found:
https://ir.murphyoilcorp.com/news/news-details/2022/Murphy-Oil-Corporation-Announces-Results-of-Cutthroat-1-Exploration-Well-Offshore-Brazil/default.aspx
Careful to always note the word 'potential', which is the qualifier needed to validate exaggerated expectations. The vast majority of wildcat (exploratory) wells turn out to be 'dry'.
Apr 20th, 2022 - 10:32 am - Link - Report abuse 0
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