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BP just discovered a billion barrels of oil in the Gulf of Mexico

by Tom DiChristopher, January 8, 2019 in CNBC


KEY POINTS
  • BP discovers 1 billion barrels of oil at its Thunder Horse field in the Gulf of Mexico.
  • The oil giant also says it will spend $1.3 billion to develop a third phase of its Atlantis offshore field south of New Orleans.
  • BP credits its investment in advanced seismic technology for speeding up its ability to confirm the discoveries.