Chevron announces oil discovery in deepwater US Gulf of Mexico
07 September 2011
Chevron Corporation announced a new oil discovery at the Moccasin prospect in the deepwater US Gulf of Mexico. The Keathley Canyon Block 736 Well No. 1 encountered more than 380 feet of net pay in the Lower Tertiary Wilcox Sands. The well is located approximately 216 miles (348 km) off the Louisiana coast in 6,759 feet (2,060 meters) of water and was drilled to a depth of 31,545 feet (9,615 meters).
The well results are still being evaluated, and additional work will be needed to determine the extent of the resource. Chevron, with a 43.75% working interest in the prospect, was the operator of the Moccasin discovery well. Other Moccasin owners are BP, with 43.75% , and Samson Offshore Company, with 12.5%.
Chevron is one of the largest leaseholders in the Gulf of Mexico and is currently developing the $7.5 billion Jack/St. Malo and the $4.1 billion Big Foot projects. Chevron began drilling the Moccasin well in March 2010. That activity was stopped in June 2010 when the US government imposed a moratorium on deepwater drilling in the Gulf of Mexico following the I disaster. Drilling resumed in March 2011 after the US Bureau of Ocean Energy Management, Regulation and Enforcement approved Chevron’s revised drilling permit application.
Under a mile and a half of water and ~5 miles of rock - how many $hundreds/barrel..
Posted by: kelly | 07 September 2011 at 10:45 AM
Coal to liquids is beginning to look much more attractive. ..HG..
Posted by: Henry Gibson | 08 September 2011 at 12:10 AM