Deeper than Mt. Everest is tall. That’s the deepest oil well in the world, and the find, by BP, is right here in the Gulf of Mexico. The Times-Picayune reports today that the Tiber Prospect, BP’s new well in the southwest Gulf, is 30,923 feet deep, and under 4,000 feet of water. The Tiber well is also expected to be one of the largest finds in the U.S., with the potential to match another BP Gulf of Mexico discovery, the Thunder Horse oil field, which produces 250,000 barrels of oil and 200 million cubic feet of natural gas per day.
While the find is great news, it will take years to develop, and require countless oil field workers. That’s even better news for southwest Louisiana’s service companies, which have begun belt tightening as the rig count drops. When Thunder Horse was developed in the 1990s, it helped drive every aspect of the service industry from fabricators to refineries. “The support industry for a project as big as this is huge,” Don Briggs, president of the Louisiana Oil and Gas Association, told the TP, and Tiber could be even bigger than Thunder Horse. The Atlantic’s Daniel Indiviglio concurs with Briggs. “I think the bigger news [than the find itself] is the optimism that this might create for future oil exploration,” he writes.
Frank’s Casing Crew, now doing business as Frank’s International, will make its final appearance on ABiz’s list of the Top 50 Privately Held Companies in Acadiana this year, and once again, it will likely be at the top with more than $1 billion in annual revenues. The 75-year-old company specializing in tubular fabrication and installation services to the oil and gas industry plans to go public this year.
The defeat, or rather highjacking of House Bill 420 in the final days of this year's Legislative Session, say Reps. Vincent Pierre and Terry Landry, is the result of the propaganda spread by one unidentified local media outlet and an unnamed former state Representative, but nothing to do with the original legislation's lack of checks, balances or details.
He’s a singer. A songwriter. A piano man. A family man. He’s even got his own Wikipedia entry. He’s David Egan. And he knows ancient secrets about the monolithic stones of Stonehenge that he’s not willing to share.