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BP also confirmed the recently-announced Pitu oil discovery in the frontier deepwater of the Potiguar basin off Brazil’s equatorial margin, announced by Petrobras. The well, which penetrated multiple Paleogene-aged reservoir sands, was drilled to a total depth of 29,221 feet (8,907 meters). Click to enlarge. Click to enlarge.
Devon Energy Corporation has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 Devon and BP will also form a heavy oil joint venture to develop BP’s Kirby oilsands leases in Alberta, Canada. billion in cash. BP group chief executive Tony Hayward.
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