Chevron finds more in GoM Lower Tertiary

Chevron Corp. has announced a new deepwater Gulf of Mexico Lower Tertiary discovery at its Buckskin prospect 44 mi (71 km) west of Jack.

Offshore staff

SAN RAMON, California --Chevron Corp. has announced a new deepwater Gulf of Mexico Lower Tertiary discovery at its Buckskin prospect 44 mi (71 km) west of Jack.

Buckskin No. 1 encountered more than 300 ft (91 m) of net pay in 6,920 ft (2,109 m) of water in Keathley Canyon block 872. More testing in the 29,404-ft (8,962-m) TD well is under way.

"This is a very significant discovery in the lower tertiary trend, where Chevron is the largest leaseholder," says George Kirkland, Chevron executive VP. "Continuing our success at the Jack well, Buckskin reinforces the trend's potential to provide the U.S. with important new energy supplies."

Repsol, with a 12.5% working interest in the prospect, was the operator of the Buckskin discovery well. Chevron, with a 55% working interest, will become operator and conduct all future work. Other Buckskin owners are Maersk Oil America, with 20% and Samson Offshore Co. with 12.5%.

02/05/2009

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