re: Bloomberg: Big Oil Goes Looking for a Career Change

quote:

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You are right in a sense but you picked the wrong example. All the McMoran big shelf wells were targeting shallow water ultra deep gas, which they found. Problem is they couldn't produce it with the technology available at the time and gas wasn't worth shite.

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Whoops. Yeah, I’ll admit I might have screwed that example up. I knew a fair amount about the technical difficulties they ran into, but didn’t realize they were targeting gas.

I’ll say this though - anyone who knows about Davy Jones knows exactly the type of pre-downturn thinking I’m talking about.. even if I did pick a bad example.