Chevron Corp. (NYSE: CVX) announced further drilling success by its Australian subsidiary in the Greater Gorgon area, located in the Carnarvon Basin.
The Satyr-2 exploration discovery well confirmed approximately 128 feet (39 meters) of net gas pay. The well is located in the WA-374-P permit area approximately 75 miles (120 kilometers) northwest of Barrow Island off the Western Australian coast.
The well was drilled in 3,570 feet (1,088 meters) of water to a total depth of 12,454 feet (3,796 meters). Satyr-2 is Chevron's fifteenth discovery in Australia since mid-2009.
Chevron Australia is the operator of WA-374-P with a 50% interest; Shell, 25%; and Exxon Mobil, 25%.
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