Chevron has announced a new oil discovery at the Guadalupe prospect in the deep-water US Gulf of Mexico.
The company discovered oil at Keathley Canyon Block 10 Well No 1 in the Lower Tertiary Wilcox Sands.
Located approximately 180 miles off the Louisiana coast in 3,992ft of water, the well was drilled to a depth of 30,173ft.
Chevron’s US subsidiary commenced the well drilling in June. The unit, which operates the well, has a 42.5% working interest in the Guadalupe prospect.
BP Exploration & Production and Venari Resources hold 42.5% and 15% stakes, respectively.
Additional tests are being undertaken on the discovery well and further appraisal wells will be required to identify the extent of the resource.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Chevron upstream vice-chairman and executive vice-president George Kirkland said: "The discovery further demonstrates Chevron’s exploration capabilities.
"Guadalupe builds on our already strong position in the deep-water US Gulf of Mexico, a core focus area where we expect significant production growth over the next two years."
Chevron North America Exploration and Production Company president Jeff Shellebarger said: "Chevron subsidiaries are among the top producers and leaseholders in the Gulf of Mexico, averaging net daily production of 143,000 barrels of crude oil, 347 million cubic feet of natural gas, and 15,000 barrels of natural gas liquids, during 2013.
"The company expects additional Gulf of Mexico production from the Tubular Bells and Jack/St. Malo projects by the end of the year."
Image: The Guadalupe well was drilled by Transocean‘s Discoverer India deepwater drillship. Photo: courtesy of Chevron.