Chevron announces further natural gas discovery offshore Australia

theflyonthewall.com

Chevron Corporation announced further drilling success by its Australian subsidiary in the Greater Gorgon Area, located in the Carnarvon Basin, a premier hydrocarbon basin. The Satyr-4 exploration discovery well confirmed approximately 220 feet of net gas pay. The well is located in the WA-374-P1 permit area approximately 75 miles northwest of Barrow Island, off the Western Australian coast. The well was drilled in 3,570 feet of water to a total depth of 15,023 feet. Chevron Australia (CVX) is the operator of WA-374-P with a 50% interest while Shell Development (RDS.A) and Mobil Australia Resources Company (XOM) each hold 25%.

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