Chevron Corp. (NYSE: CVX) has made a new oil discovery at the Guadalupe prospect in the deepwater U.S. Gulf of Mexico (GoM), said the San Ramon, Calif.-based company in an Oct. 23 release.
The Keathley Canyon Block 10 Well No. 1 encountered significant oil pay in the Lower Tertiary Wilcox Sands. The well is located in the GoM about 180 miles off the Louisiana coast in 3,992 feet of water and was drilled to a depth of 30,173 feet.
Chevron subsidiary Chevron U.S.A. Inc. began drilling the Guadalupe well in June. More tests are being conducted on the discovery well, and additional appraisal wells will be needed to determine the extent of the resource.
Chevron U.S.A. Inc. is the operator of the Guadalupe discovery well with a 42.5% working interest in the prospect. Guadalupe co-owners are BP Plc's (NYSE: BP) BP Exploration & Production Inc. (42.5%) and Venari Resources LLC (15%).
Chevron subsidiaries averaged 143,000 barrels (bbl) of crude oil, 347 million cubic feet of gas and 15,000 bbl of NGL of net daily production in the GoM during 2013, said Jeff Shellebarger, president, Chevron North America Exploration and Production Co., in a statement.
“The company expects additional GoM production from the Tubular Bells and Jack/St. Malo projects by the end of the year," Shellebarger said.
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