Make your money go further for just 25p per day

Chevron’s commitment good news for the deepwater drillers…and Pressure Technologies

22/10/2010 · Pressure Technologies (PRES) 

Chevron Corp’s announcement that it will invest $7.5 billion to develop two of the Gulf of Mexico's largest unexploited oil fields is the first big commitment from an oil major since the drilling moratorium was lifted.

The newly sanctioned projects—Jack and St. Malo—represent two of the biggest finds of the last decade in the U.S. Gulf, potentially holding 500 million barrels of recoverable oil and gas. Production is expected to begin in 2014, in 7,000 feet of water roughly 280 miles south of New Orleans.

Brokerage Natixis Bleichroeder recently upgraded the largest of the deep water drillers Transocean (NYSE: RIG) to Buy. The Natixis analyst commented that, “In our previous…

Sign up and read the full article

Register to continue reading our content.

Get FREE access now

Already a member? Login


Previous article Next article

DON'T MISS OUT!

Get top investment ideas to help safeguard and grow your wealth.

Invaluable insight from the exciting world of smaller companies.

REGISTER FREE

DON'T MISS OUT ON OUR PREMIUM CONTENT

Become a champion investor for just £90 a year. Benefit from our high performing portfolios:

START FREE TRIAL

More on Pressure Technologies

A UK technology success story

14/03/2024 · Company Insights

Our coverage here includes our assessment of a fast-growing UK-listed (that makes a change) technology group,…


Big order books | Travel delights

30/01/2024 · Company Insights

Full year results from a specialist engineering group covered here offer encouragement, but can it keep it…


More Company Insights

Bonkers Bargains: another upgrade and still a bargain

12/11/2024 · Time Finance

AIM new arrivals and departures October 2024

08/11/2024 · GenIP · Pulsar Helium

Sign-up to our free email updates

SIGN UP