Chevron Strikes Oil in Deepwater GOM

Chevron has made an oil discovery at the Moccasin prospect in the deepwater Gulf of Mexico.

Well No.1 encountered more than 380 feet (116 meters) of net pay in the Lower Tertiary Wilcox sands in the Keathley Canyon Block 736. The well reached a depth of 31,545 feet (9,615 meters). Chevron is evaluating the results, and further work is needed to determine the extent of the resource.

Moccasin lies about 216 miles (348 kilometers) off the Louisiana coast in 6,759 feet (2,060 meters) of water. Chevron operates the discovery with a 4.75% interest, while BP holds 4.75%, and Samson Offshore Company holds 12.5%. 

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