Chevron finds more gas at Gorgon offshore Western Australia

Offshore staff

SAN RAMON, California – Chevron Corp. (NYSE: CVX) has made another natural gas discovery in the Greater Gorgon Area of the Carnarvon basin, offshore Australia.

The Satyr-2 exploration discovery well confirmed approximately 128 ft (39 m) of net gas pay. The well is located in the WA-374-P permit area approximately 75 mi (120 km) northwest of Barrow Island off the Western Australian coast.

The well was drilled in 3,570 ft (1,088 m) of water to a TD of 12,454 ft (3,796 m). Satyr-2 is the company’s fifteenth discovery in Australia since mid-2009.

Melody Meyer, president, Chevron Asia Pacific Exploration and Production Co., said: “The continued exploration success in the Carnarvon basin could help underpin expansion opportunities at our LNG projects in Australia and support our drive to become a leading supplier of liquefied natural gas to world markets and domestic gas to Western Australia."

Chevron Australia is the operator of WA-374-P with a 50% interest while Shell and Exxon Mobil each hold 25%.

9/19/2012

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