Monday, November 3, 2008

More Oil Found at Campos Basin Off Brazil's Coast

The potentially huge depository of oil at the Campos Basin off of Brazil's Coast has yielded more oil, as partners in the venture, EnCana Corp., SK Energy Co., Anadarko Petroleum Corp. and Devon Energy Corp. discovered more at the huge site.

The new oil was found at a well called the 1APL1ESS in the C-M-101 block in water 1,418 meters (4,652 feet) deep.

With oil prices down, it's not known if the available oil can be produced at a profit at this time.

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