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Wednesday, April 7, 2010 as of 11:14 AM ET

U.S. Geological Survey

The United States Geological Survey (USGS) is a scientific agency of the United States government. The scientists of the USGS study the landscape of the United States, its natural resources, and the natural hazards that threaten it.

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Repsol: Exploratory Well In Cuban Waters Is Unsuccessful

Spanish oil firm Repsol YPF SA (REP.

MC) said Friday that an exploratory well in Cuban waters wasn't successful and will be capped.In February, Repsol initiated deep-water exploration drilling about 50 kilometers north of Havana as part of its global exploration operations. Repsol's drilling efforts represented the beginning of Cuba's push to develop its offshore oil resources, in part to wean itself off imports from Venezuela."The well was dry," said Repsol spokesman Kristian Rix. "Geologists are evaluating how we move forward."Repsol resumed exploration in the area after it failed to find exploitable oil in 2004. The U.S. Geological Survey has said there could be 5 billion barrels of untapped oil off the Cuban coast.Cuba's efforts to develop its offshore oil resources have presented a thorny problem for U.S. regulators. If an oil spill were to occur, a decades-long embargo against Cuba would prevent U.S. companies from responding without first getting special permission from the U.S. ...

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  1. Repsol: Exploratory Well In Cuban Waters Not Successful

    Spanish oil firm Repsol YPF SA (REP.MC) said Friday that an exploratory well in Cuban waters was not successful and will be capped.In February, Repsol initiated deep...

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