Chevron Strikes Oil Twice in Gulf this Week

By Admin
Chevron struck oil in a deepwater well in the Gulf of Mexico for a second time a week. Last Tuesday, the company discovered a large amount of oil at t...

 

Chevron struck oil in a deepwater well in the Gulf of Mexico for a second time a week.

Last Tuesday, the company discovered a large amount of oil at the Shenandoah-2 well, according to partners Anadarko Petroleum Corp and ConocoPhillips. Today, just 12 miles nearby and 190 miles off the coast of Louisiana, Chevron said its Walker Ridge Block 98 well in Coronado prospect encountered over 400 feet of net pay.

"Between the Coronado discovery, the potentially giant Shenandoah discovery, and our recent high bids on remaining open blocks in the Shenandoah/Coronado mini-basin, Venari is firmly positioned for significant growth in a future production hub in the Gulf," Venari Chief Executive Brian Reinsborough said.

Chevron is in the midst of completing a number of other expensive, large-scale projects in ultradeep waters of the Gulf of Mexico. By 2017, the company aims to boost its daily oil and natural-gas production to 3.3 million barrels from 2.7 million barrels it averaged in 2012.

Read More in Energy Digital's March Issue

 

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