Drilling deeper for dollars

Jul 1 - As oil consumption grows and access to most oil-rich regions becomes increasingly restricted, companies are venturing farther out to sea, drilling deeper than ever in their quest for energy.

A decade ago when Chevron's Petronius came online it was one of the deepest water oil production facilities in the Gulf of Mexico --at 17-hundred feet.

The next oil frontier - and the challenge for oil exploration - lies below 10,000 feet of water, through five miles of hard rock, thick salt and tightly packed sands.

Ruben Ramirez reports.