It's looking like the world of deepwater drilling is coalescing into what's being called the "Golden Triangle." Consisting of Brazil's Santos Basin, the U.S. Gulf of Mexico, and West Africa, the three areas have resulted in a bevy of discoveries of late, and their potential is growing by leaps and bounds.
The most recent oil and gas discovery was made by Anadarko Petroleum
The positive aspect of the well involves its possible inclusion at the western end of a single major petroleum structure that is set off about 700 miles to the east by Anadarko's Jubilee field, which was discovered offshore Ghana in 2007. Jubilee is believed to contain about 1.8 billion barrels of crude oil. Anadarko is preparing to drill another well off the Ivory Coast, an effort that could confirm the existence of the major deepwater structure between Ghana and Sierra Leone.
The Anadarko discovery comes essentially on the heels of another major deepwater discovery by Brazil's state-controlled Petrobras
And as my Foolish colleague Toby Shute told you earlier this month, BP
So the deepwater is clearly where it's happening. For that very reason, oilfield service companies Schlumberger
Fool contributor David Lee Smith doesn't own shares in any of the companies mentioned. He does welcome your questions. Petroleo Brasileiro is a Motley Fool Income Investor selection. Try any of our Foolish newsletters today, free for 30 days. The Fool has a deepwater disclosure policy.
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