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 Chevron, BP and Venari Strike “Significant Oil Pay” in Gulf of Mexico

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PostSubject: Chevron, BP and Venari Strike “Significant Oil Pay” in Gulf of Mexico   Thu Oct 23, 2014 8:12 pm

Chevron, BP and Venari Strike “Significant Oil Pay” in Gulf of Mexico

BP, Chevron and Venari Resources announced today a new oil discovery at the Guadalupe prospect in the Gulf of Mexico.

Situated about 180 miles off of Louisiana and at a depth of 30,173 feet, the partners “encountered significant oil pay” at the Keathley Canyon Block 10 Well No. 1. The deepwater find represents the culmination of ongoing exploration efforts by subsidiaries BP Exploration & Production, Chevron U.S.A. and Venari Resources, who hold 42.5, 42.5 and 15 percent interests respectively.

“The discovery further demonstrates Chevron’s exploration capabilities,” said George Kirkland, Chevron’s vice chairman and executive vice president of Upstream. “Guadalupe builds on our already strong position in the deepwater U.S. Gulf of Mexico, a core focus area where we expect significant production growth over the next two years.”

Chevron, the operator, began drilling the well in June beneath 3,992 feet of water. At that depth, the pressure is approximately 1,789 pounds per square inch. According all parties, the next step is to formulate a plan for the drilling of appraisal wells to assess the size of the discovery.

Ian Hanner


http://explorationworld.com/exploration/162/Chevron,-BP-and-Venari-Strike-Significant-Oil-Pay-in-Gulf-of-Mexico

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