Chevron discovers natural gas with Brederode-1 in the Exmouth Plateau offshore Australia

Major oil and gas producer Chevron (NYSE:CVX) has discovered natural gas with its Brederode-1 exploration well in the Exmouth Plateau on the frontier edges of the Carnarvon Basin offshore Western Australia.

Drilled to a total measured depth of 9,022 feet (2,750 meters) the Brederode-1 well encountered 49 feet (15 meters) of net natural gas pay.

Located within the WA-364-P permit area, the Brederode-1 discovery well is situated 217 miles (350 kilometers) northwest of Onslow in 4,550 feet (1,387 meters) of water.

"We are encouraged by the Brederode-1 exploration success, which is further evidence of the natural gas potential in the Exmouth Plateau area and the frontier opportunities offshore northwest Australia,” said George Kirkland, vice chairman of Chevron.

Coupled with Chevron’s nearby Kentish Knock discovery, which hit 110 feet (34 meters) of natural gas in 2009, the Brederode-1 discovery helps to extend the natural gas resources farther offshore Australia.

“This discovery expands the resource potential in the Carnarvon Basin frontier and demonstrates our long-term commitment to developing Australia’s world-class natural gas resources,” said Jim Blackwell, president of Chevron Asia Pacific Exploration and Production Co.

Chevron is the operator of WA-364-P with 50 percent interest. Shell (NYSE:RDS-A, NYSE:RDS-B) holds the remaining 50 percent working interest in the permit. 

Currently, Chevron holds the largest undeveloped natural gas resources in Australia. The company is the operator of both the Gorgon LNG and the Wheatstone LNG projects, and it holds interest in the North West Shelf Venture.



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