Chevron Confirms Oil Discovery at Bandit Prospect in Gulf of America
Chevron Corporation confirmed an oil discovery at the Bandit prospect in the Gulf of America, as announced by operator Occidental. The exploration well is located in Green Canyon Block 680, about 125 miles south of the Louisiana coast. The well encountered high-quality, full-to-base oil-bearing Miocene sands. The co-owners are currently evaluating results to determine next steps. The discovery has the potential for subsea tie-backs to an adjacent Occidental-operated facility and others in the nearby area.
Bandit is operated by Occidental, which holds a 45.375 percent working interest, and is co-owned by Chevron subsidiary Chevron U.S.A. Inc. (37.125 percent working interest) and Woodside Energy (Deepwater) Inc. (17.5 percent working interest).
Bandit demonstrates our exploration strategy in action and reinforces the high-quality opportunities in the prolific deepwater Gulf of America,” said Kevin McLachlan, Vice President, Exploration, Chevron. “We are working with our co-owners to advance appraisal and development planning in a disciplined manner, leveraging existing infrastructure to help deliver competitive barrels.
Chevron’s exploration strategy is focused on disciplined investment across a resilient, balanced portfolio of infrastructure-enabled and frontier high-impact exploration opportunities. Chevron is the largest leaseholder and a leading producer in the Gulf of America, with a portfolio that includes operated and non-operated assets. Discoveries like Bandit build on Chevron’s deepwater expertise.
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of operations, and grow new energies businesses.
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