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Chevron announces “significant” oil discovery in deepwater Gulf of Mexico

Chevron Corporation announced a significant oil discovery at the Anchor prospect in the deepwater US Gulf of Mexico. Anchor is Chevron’s second discovery in the deepwater Gulf in less than a year. Chevron subsidiary Chevron USA is the operator, with a 55% working interest in the Anchor prospect. Anchor co-owners are Cobalt International Energy, Inc. (20%), Samson Offshore Anchor, LLC (12.5%); and Venari Resources LLC (12.5%).

The Green Canyon Block 807 Well No. 2 encountered oil pay in multiple Lower Tertiary Wilcox Sands. The well, which was spudded in August 2014, is located approximately 140 miles (225 km) off the coast of Louisiana in 5,183 feet (1,580 m) of water and was drilled to a depth of 33,749 feet (10,287 m). Appraisal drilling will begin in 2015.

The Anchor discovery, along with the previously announced Guadalupe discovery, are significant finds for us in the deepwater Gulf of Mexico. We had one of our best years with the drill bit in 2014, reporting more than 30 discoveries worldwide and adding an estimated one billion barrels of new resources to our holdings.

—Jay Johnson, senior vice president, Upstream

Anchor is located approximately 140 miles (225 km) off the coast of Louisiana.

Chevron currently has five deepwater drillships operating in the Gulf, two of which are focused on exploration activities.



I think that gas prices at the pump will stay low for a long time.

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