Chevron has completed appraisal of the Anchor discovery in Lower Tertiary Wilcox Trend in the deepwater Gulf of Mexico.

Chevron upstream executive vice-president Jay Johnson said: "The positive results of our appraisal work at Anchor indicate a significant discovery of potentially hub class scale."

Located in Green Canyon Block 807, 225km off the coast of Louisiana in the US, the original Anchor discovery well lies in 5,180ft of water.

In late-2014, when the well was drilled to a depth of 33,750ft, it encountered 690ft of net oil pay.

Appraisal drilling started in June, and recently discovered 694ft of net oil pay.

"We have pursued appraisal work to further evaluate the results and assess development alternatives to optimise value creation.

Chevron has confirmed at least 1,800ft of a hydrocarbon column in the Lower Tertiary Wilcox reservoirs at Anchor discovery to date.

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According to the company, further delineation wells and technical studies are required to complete appraisal of the field.

Chevron North America exploration and production company president Jeff Shellebarger said: "After the success of the discovery well announced earlier this year, we have pursued appraisal work to further evaluate the results and assess development alternatives to optimise value creation."

The Anchor prospect is operated by Chevron’s subsidiary Chevron USA with a 55% working interest.

Other partners are Cobalt International Energy (20%), Samson Offshore Anchor (12.5%), and Venari Resources (12.5%).

Image: Anchor is located 225km off the coast of Louisiana. Photo: © Chevron 2014.