Dr. Ben Meadows, an assistant professor of economics at the University of Alabama in Birmingham, vividly recalls the night of ...

Initial data shows high-quality reservoirs and a potentially commercial volume of hydrocarbons, the company said.

bp has discovered oil at the Gulf of Mexico Far South prospect 120 miles off the coast of Louisiana. Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs ...

BP has made an oil discovery in the deepwater U.S. Gulf of Mexico 120 miles off the coast ... at the Far South prospect in an exploration well drilled in Green Canyon Block 584, located in western ...

The Department of Interior Thursday released an analysis of fossil fuel deposits showing an additional 1.30 billion barrels ...

BP operates the Far South project with a 57.5% stake, alongside Chevron U.S.A. Inc. (NYSE: CVX), which holds 42.5%. The field ...

(CNN)-- BP has completed work on a relief well that will allow the oil giant to permanently seal the well at the heart of the Gulf oil disaster, the government's commander in charge of overseeing ...

The estimate includes 5.77 billion bbl of oil and 7.15 tcf of natural gas—a 22.6% increase in remaining recoverable reserves, DOI said.

The U.S. will hold an oil and gas lease sale in the Gulf of Mexico, as planned by the administration of former President Joe ...

Preliminary data indicates a potentially commercial volume of hydrocarbons, reinforcing bp's exploration strategy.