The Bahamas chain holds promise

摘要

Though discoveries have yet to yield commercial hydrocarbons, the geology looks prospective. The Bahamas archipelago, approximately 130 miles (209 km) from the US, has long been known for its beaches and is today emerging as an oil and gas frontier. The last exploratory drilling to take place on the island chain was in 1986. Five new field wildcats have been drilled in the Bahamas, all but one offshore. Of the 77 stratigraphic tests in the region, none has yielded commercial amounts of hydrocarbons. However, in a recent flurry of activity, The Bahamas has attracted both minnows and major players to its hydrocarbon potential.