A typical Chevron discovery PR when they choose to disclose something of what they found can look like that below, and may clarify some of the speculations on this board. But expecting an idea of X billion bbl is nuts IMHO.
ChevronTexaco Announces Discovery in Deepwater Gulf of Mexico
Discovery Continues String of Exploration Successes
SAN RAMON, Calif., Sep. 7, 2004 -- ChevronTexaco Corp. today announced a new deepwater oil discovery at the Jack Prospect located in Walker Ridge block 759. The block is approximately 270 miles southwest of New Orleans.
Operated by ChevronTexaco, the Jack #1 discovery well is located in approximately 7,000 feet of water and was drilled to a total depth of 29,000 feet on July 29. The well encountered more than 350 feet of net pay oil sands. Further appraisal drilling is planned to determine the extent of the discovery.
"The Jack discovery is our latest success in the deepwater Gulf of Mexico, where we have had a greater than 50 percent success rate in our 16 wildcat wells since late 2001," said Ray Wilcox, vice president of ChevronTexaco and president of ChevronTexaco Exploration and Production Co. "This string of discoveries is the result of properly executing our focused, high-impact exploration program."
"Jack follows our earlier success at the Saint Malo discovery and is confirmation of further potential of our exploration acreage," said Kathleen Arthur, vice president of ChevronTexaco’s Gulf of Mexico deepwater business unit.
ChevronTexaco owns a 50 percent working interest in Jack. Partners are Encana (25 percent working interest) and Devon (25 percent working interest).
Currently celebrating its 125th anniversary, ChevronTexaco is the fifth-largest energy company in the world, based on market capitalization. With more than 50,000 employees, ChevronTexaco conducts business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and marketing and distributing fuels and other energy products. ChevronTexaco is based in San Ramon, Calif. More information on ChevronTexaco is available at chevrontexaco.com
ChevronTexaco Announces New Discovery in Deepwater Gulf of Mexico
NEW ORLEANS, Oct. 29, 2003 -- ChevronTexaco today announced a new deepwater oil discovery at the Saint Malo Prospect located in Walker Ridge 678. The block is located approximately 250 miles south of New Orleans.
Operated by Unocal, the Saint Malo discovery well is located in approximately 6,900 feet of water and was drilled to a depth of 29,066 feet. The exploratory well encountered more than 450 net feet of oil pay over a gross interval of 1,400 feet.
"The Saint Malo discovery is a very positive result. Our interest in the prospect was secured with a trade and is an example of our long-term strategy to acquire strategic assets and deliver superior exploration success from our Gulf of Mexico deepwater portfolio," said Ray Wilcox, president of ChevronTexaco Exploration and Production.
"We are excited by the results of this well," said Kathleen Arthur, vice president of ChevronTexaco's Gulf of Mexico deepwater business unit. "We have a good acreage position in the area and look forward to additional exploration drilling next year."
Further appraisal drilling is planned at the Saint Malo Prospect to determine the extent of the discovery.
AI
