Chevron has two new gas finds offshore Australia

Offshore staff

SAN RAMON, California – Chevron Corp. (NYSE: CVX) has two new discoveries offshore Australia in the Exmouth Plateau area of Carnarvon basin.

The Pinhoe-1 exploration discovery well encountered approximately 197 ft (60 m) of net gas pay in the Barrow and Mungaroo sands. Pinhoe-1 is in WA-383-P 124 mi (200 km) north of Exmouth off the Western Australia coast. The well was drilled in 3,048 ft (929 m) of water to a TD of 13,396 ft (4,083 m).

The Arnhem-1 exploration discovery well confirmed approximately 149 ft (45.5 m) of net gas pay in the upper Mungaroo Sands. Arnhem-1 is in WA-364-P 180 mi (290 km) north of Exmouth off the Western Australia coast. The well was drilled in 3,963 ft (1,208 m) of water to a TD of 9,557 ft (2,913 m).

"These discoveries in the Exmouth area are significant as they are located farther out from other discoveries in the greater Gorgon and Wheatstone development in the Carnarvon basin and indicates development potential in the broader region," said Melody Meyer, president, Chevron Asia Pacific Exploration and Production Co.

12/31/2012

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