The Technical Problems Of Deep Water Drilling In The Gulf's New Tiber Prospect.

BLOOMBERG.COM.
For me, a fascinating description of deep water drilling challenges.
“The rocks that are getting drilled are very tough rocks to extract oil from, and indeed nobody has really done it yet from this particular formation in the Gulf of Mexico,” Neil McMahon, a London-based analyst at Sanford C. Bernstein & Co. said in an interview. “The development costs and exploration costs could be quite expensive relative to what we’ve seen in the past.
Geologists and engineers didn’t know if oil that far beneath the seafloor could be tapped until 2006, when Chevron Corp. completed the first ever successful test well at those depths.