Mexico discovers gas reserves off Gulf coast

Updated 4h 55m ago

MEXICO CITY (AP) – Mexico's state oil company says deep-water drilling in the Gulf of Mexico has revealed reserves that could multiply the country's production of natural gas.

Petroleos Mexicanos says the Nen 1 exploratory well found a deposit estimated to hold 400,000 million cubic feet of gas. It says that could lead to production of 27 million cubic feet a day, well above this year's daily average of 6.64 million cubic feet.

The company says the find is a total of 14,270 feet feet deep, including 4,898 feet of water.

The well is 68 miles northeast of Coatzacoalcos.

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