US oil giant Chevron has made a deepwater oil discovery in the US Gulf of Mexico. The find was made at the Coronado prospect of the Walker Ridge Block 98, in water more than 6100 ft deep.
After drilling for almost 32 000 ft, the company struck 400 ft of net play. The full results from this exploration well are still being examined in order to fully reveal the extent of the find.
The company is currently taking part in several major projects around the world, in order to boost its overall, global production. Chevron has set a target of a total 3.3 million bpd (oil and gas combined) to reach by 2017, up from the 2.7 million bpd recorded at the end of last year.
Chevron holds a 40% stake in the Coronado well and is the operatior; ConocoPhillips holds a 35% stake, with Anadarko Petroleum Corp and Venari Offshore LLC holding 15 and 10% stakes respectively.
Edited from various sources by David Bizley