Someone was talking the other day here on the floor that we're drilling twice as many wells and we don't need to drill more. Well, we're drilling in old, tired fields. We're drilling the cracks and crevices that we haven't drilled before. You get out into some fertile territories, there's huge gas fields. Just huge. In fact, off the coast of Florida, there was a huge gas field that I think the lady from MS said it was called very sweet gas and it was tremendous volumes, and we actually bought the leases back so we wouldn't produce it. Yet 50 miles offshore, we have Cuba cutting deals with China, Norway, and Canada. They're going to produce gas 50 miles off the Florida coast, and we can't produce 100 miles off the coast. Does that make sense? I don't think so.
John W. Peterson: “Someone was talking the other day here on the floor that we're drilling twice as many wells and we don't need to drill…”
Editor's note · Context
Discussing offshore drilling and gas production near Florida.
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