Stephen Thurston, vice president for Chevron North America Exploration and Production Co., speaks Wednesday in Morgan City. The potential for oil production in the deep-water Gulf of Mexico is promising, Thurston said. Less than half of the over 24 billion barrels of deep-water oil discovered in the gulf has been extracted, and another 11 billion barrels have yet to be found, he said. (The Daily Review/Zachary Fitzgerald)
Billions of barrels of oil sitting deep in the Gulf of Mexico paint a bright picture for the future of gulf oil production, a Chevron executive said Wednesday.