Kerr-McGee, one of the world's largest oil and natural gas exploration firms, has finally acquired a 100 per cent interest in nine licenses that will enable it to begin the search for oil in the Grand Bahama Banks.
The licenses, which have been acquired by the Oklahoma City-based company's wholly-owned subsidiaries Kerr-McGee Bahamas and Atlantic Exploration and Production Company, are for oil and gas exploration in the Blake plateau about 100 miles north of Freeport and over 6.5 million acres in acres depths ranging from 650 feet to more than 7,000 feet.
Source: The Tribune
