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Chevron announces successful test well at deepwater St. Malo in Gulf of Mexico

28 February 2013

Chevron Corporation announced that it had conducted a successful production test on the St. Malo PS003 well in the prolific Lower Tertiary trend in the deepwater Gulf of Mexico. Oil flow rates, though limited by testing equipment constraints, exceeded 13,000 barrels of oil per day. Chevron’s Jack/St. Malo development is located approximately 280 miles (450 km) south of New Orleans, Louisiana, in 7,000 feet (2,134 m) of water.

The test, in Walker Ridge Block 678, targeted Lower Tertiary sands more than 20,000 feet (6,096 m) under the sea floor and was conducted during August and September 2012. This is the first development well in the St. Malo field, which is being jointly developed with the Jack field. The jointly developed Jack and St. Malo fields are expected to provide a major step-up in Chevron’s production from 2014, said Gary Luquette, president, Chevron North America Exploration and Production Company.

Jack/St. Malo was also designed to provide a template for future deepwater developments, Luquette said at the Credit Suisse Energy Summit earlier this month. The Buckskin and Moccasin co-development, where Chevron currently is conducting appraisal drilling and pre-feed studies, will utilize many of the lessons that learned from Jack/St. Malo.

CVX deepwater interest GOM_102110_reduced
Click to enlarge.

The Jack and St. Malo fields are located within 25 miles (40 km) of each other and are being jointly developed with a host floating production unit located between the two fields. The facility is planned to have a design capacity of 177,000 barrels of oil-equivalent per day to accommodate production from the Jack/St. Malo development, which is estimated at a maximum total daily rate of 94,000 barrels of oil-equivalent, plus production from third-party tiebacks. Total project costs for the initial phase of the development are estimated at $7.5 billion.

Chevron has a working interest of 51% in the St. Malo field. Other owners of the St. Malo field are Petrobras (25%), Statoil (21.5%), ExxonMobil (1.25%) and ENI (1.25%).

February 28, 2013 in Brief | Permalink | Comments (4) | TrackBack (0)

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Comments

At 7.5B development cost the oil produce in the first year will cost about $250 a barrel.

$250/brl=>~$8 to $10/gallon >= lots of Leaf EV sales

"Running on Empty" and living on diminishing returns..

Uh oh. I made a big big mistake this year, then.

My income is $100,000/year and I just bought a $400,000 house. That makes me financially in the hole by $300,000 this year!

What a silly fool I am!

Your big mistake, Steve is trying to appeal to common sense with these guys.

Incredible as it is, they truly believe Chevron, Petrobras, Statoil, ExxonMobil and ENI do not know as much as they do about the cost of doing business.

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