Chevron Confirms Oil Discovery at Bandit Prospect in Gulf of America
HOUSTON–(BUSINESS WIRE)–Chevron Corporation (NYSE:CVX) in the present day confirmed an oil discovery at the Bandit prospect in the Gulf of America, as introduced by operator Occidental. The exploration effectively is situated in Green Canyon Block 680, about 125 miles south of the Louisiana coast.
The effectively encountered high-quality, full-to-base oil-bearing Miocene sands. The co-owners are at the moment evaluating outcomes to find out subsequent steps. The discovery has the potential for subsea tie-backs to an adjoining Occidental-operated facility and others in the close by space.
Bandit is operated by Occidental, which holds a forty five.375 % working curiosity, and is co-owned by Chevron subsidiary Chevron USA Inc. (37.125 % working curiosity) and Woodside Energy (Deepwater) Inc. (17.5 % working curiosity).
“Bandit demonstrates our exploration strategy in action and reinforces the high-quality opportunities in the prolific deepwater Gulf of America,” stated Kevin McLachlan, Vice President, Exploration, Chevron. “We are working with our co-owners to advance appraisal and development planning in a disciplined manner, leveraging existing infrastructure to help deliver competitive barrels.”
Chevron’s exploration technique is concentrated on disciplined funding throughout a resilient, balanced portfolio of infrastructure-enabled and frontier high-impact exploration alternatives. Chevron is the most important leaseholder and a number one producer in the Gulf of America, with a portfolio that features operated and non-operated property. Discoveries like Bandit construct on Chevron’s deepwater experience.
About Chevron
Chevron is one of the world’s main built-in vitality firms. We imagine reasonably priced, dependable and ever-cleaner vitality is important to enabling human progress. Chevron produces crude oil and pure gasoline; manufactures transportation fuels, lubricants, petrochemicals and components; and develops applied sciences that improve our enterprise and the business. We intention to develop our oil and gasoline enterprise, decrease the carbon depth of operations, and develop new energies companies. More details about Chevron is offered at www.chevron.com.
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