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Stock impact report

BP Returns To Gulf With Major Project [Yahoo! Finance]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
This article first appeared on GuruFocus BP ( NYSE:BP has received U.S. approval to move ahead with its Kaskida project in the deepwater Gulf of Mexico, marking the company's first brand new field development in the region since the 2010 Deepwater Horizon disaster. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Is NVDA fairly valued? Test your thesis with our free DCF calculator. The approval from the U.S. Department of the Interior comes after roughly a year long review of BP's development plan. The Kaskida field is expected to begin producing oil in 2029. In its first phase, the project is projected to produce about 275 million barrels of oil equivalent from a portion of the reservoir, which is estimated to contain as much as 10B barrels beneath the seabed. Despite being discovered nearly 20 years ago, the field remained largely undeveloped because the industry lacked the technology needed to safely handle the extreme pressure and challenging geology in the ar Show less Read more
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