Chevron discovers Lower Tertiary oil in deepwater GoM at Coronado prospect

Offshore staff

SAN RAMON, California – Chevron Corp. (NYSE: CVX) has an oil discovery at the Coronado prospect in the deepwater U.S. Gulf of Mexico.

Walker Ridge block 98 Well No. 1 encountered more than 400 ft (122 m) of net pay. The well is located approximately 190 mi (308 km) off the Louisiana coast in 6,127 ft (1,868 m) of water and was drilled to a depth of 31,866 ft (9,713 m).

“The Coronado discovery continues our string of exploration successes in the Lower Tertiary trend, where Chevron is advancing multiple projects,” said Gary Luquette, president, Chevron North America Exploration and Production Co. “It also highlights the importance of the deepwater Gulf of Mexico as a source of domestic energy for the United States.”

3/25/2013

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