Chevron says Anchor discovery in Gulf of Mexico shows promise

Chevron says its Anchor discovery deep in the Gulf of Mexico could hold large stores of oil, but more testing needs to be done, Chevron and its partners announced Thursday.

Jay Johnson, Chevron’s executive vice president of upstream, said in a statement early results show the Anchor prospect may be a big enough discovery that it could be classified as a hub. Chevron has developed hubs at other massive projects in the Gulf of Mexico, including the Jack/St. Malo fields, which have a large centralized processing facility to handle oil and gas extracted from each.

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But before Chevron moves forward with developing the Anchor project, additional tests need to be completed to fully assess the size of the discovery. The company did not say when it planned to drill more exploratory wells.

The Anchor discovery is located about 140 miles off the coast of Louisiana in 5,180 feet of water, in an area known as the Lower Tertiary Wilcox. After a well drilled last year struck 690 feet of net oil pay, the multinational oil corporation and its partners conducted appraisal drilling in June. That well found 694 feet of net oil pay.

In all, Chevron said it has confirmed a hydrocarbon column of at least 1,800 feet in the reservoirs at Anchor.

“The appraisal results to date suggest that Anchor could be one of the largest oil accumulations in the Lower Tertiary Wilcox trend,” Brian Reinsborough, CEO of Venari Resources, said in a statement. The Dallas-based private exploration and production company holds a 12.5 percent stake in the project.

Chevron operates the Anchor prospect and holds a 55 percent working interest. The remaining stake is split between Cobalt International Energy, which holds a 20 percent stake and Samson Offshore Anchor, which has a 12.5 percent interest.

Appraisals of the Chevron's Anchor discovery deep in the Gulf of Mexico indicate the prospect could hold large stores of oil, but more testing needs to be done, Chevron and its partners announced Thursday. (Chevron)
Appraisals of the Chevron’s Anchor discovery deep in the Gulf of Mexico indicate the prospect could hold large stores of oil, but more testing needs to be done, Chevron and its partners announced Thursday. (Chevron)
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