Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Going Down Slow

With apologies to Eric Clapton...

Nexen driled a 10,400 m (~6.5 miles) hole in the Gulf of Mexico at a cost of US$140-million. They encountered 600 feet of net oil pay in multiple zones... which is nothing to sneeze at. When people talk about "big oil" conspiracies it makes me want to puke. Nexen threw some BIG dollars into a hole in the ground with no guarantee of success.