Exxon Mobil's (XOM) discovery of several reservoirs in Keathley Canyon
containing an estimated total resource of more than 700M barrels of oil
equivalent is big by US Gulf of Mexico standards.
It's larger than Chevron's
(CVX)
Tahiti
field, which was discovered in 2002 and contains
an estimated 400-500M boe. The
Tahiti
platform accounts for nearly 40% of Chevron's production in the area. XOM
climbs nearly $1 premarket on the news, recently sitting up 0.6% at $80.50.