A billion barrels here. A billion barrels there. Pretty soon you're talking about a lot of oil.
When it comes to ExxonMobil's Julia discovery in the Gulf of Mexico, however, the only projection the company actually has ever provided is one vague word: "significant."
But that didn't stop industry analysts and journalists from freaking out recently at the language used by ExxonMobil lawyers in a lawsuit against the US government contesting rejection of an extension on the company's lease at that prospect. More specifically, in the first paragraph of their pleadings, the legal team charged the rejection is "depriving ExxonMobil of the right to produce a reservoir believed to hold billions of barrels of oil."

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