Chevron (CVX) Announces Two Discoveries in Australia's Carnarvon Basin
Tweet
Share
E-mailGet Alerts CVX Hot Sheet
Join SI Premium – FREE
Chevron Corporation (NYSE: CVX) announced further drilling success by its Australian subsidiary in the Exmouth Plateau area of the Carnarvon Basin, a premier hydrocarbon basin.
The Pinhoe-1 exploration discovery well encountered approximately 197 feet (60 meters) of net gas pay in the Barrow and Mungaroo Sands. Pinhoe-1 is located in the WA-383-P permit area, located approximately 124 miles (200 kilometers) north of Exmouth off the Western Australia coast. The well was drilled in 3,048 feet (929 meters) of water to a total depth of 13,396 feet (4,083 meters).
The Arnhem-1 exploration discovery well confirmed approximately 149 feet (45.5 meters) of net gas pay in the upper Mungaroo Sands. Arnhem-1 is in the WA-364-P permit area, located approximately 180 miles (290 kilometres) north of Exmouth off the Western Australia coast. The well was drilled in 3,963 feet (1,208 meters) of water to a total depth of 9,557 feet (2913 meters).
Chevron Australia is the operator of both the WA-383-P and WA-364-P permit areas and has a 50 percent interest with Shell Development (Australia) Pty Ltd holding the remaining 50 percent.
The Pinhoe-1 exploration discovery well encountered approximately 197 feet (60 meters) of net gas pay in the Barrow and Mungaroo Sands. Pinhoe-1 is located in the WA-383-P permit area, located approximately 124 miles (200 kilometers) north of Exmouth off the Western Australia coast. The well was drilled in 3,048 feet (929 meters) of water to a total depth of 13,396 feet (4,083 meters).
The Arnhem-1 exploration discovery well confirmed approximately 149 feet (45.5 meters) of net gas pay in the upper Mungaroo Sands. Arnhem-1 is in the WA-364-P permit area, located approximately 180 miles (290 kilometres) north of Exmouth off the Western Australia coast. The well was drilled in 3,963 feet (1,208 meters) of water to a total depth of 9,557 feet (2913 meters).
Chevron Australia is the operator of both the WA-383-P and WA-364-P permit areas and has a 50 percent interest with Shell Development (Australia) Pty Ltd holding the remaining 50 percent.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Chevron (CVX) PT Raised to $218 at Morgan Stanley
- Boeing names Ryan Shedd as new SVP and controller
- Home Depot expands executive roles, grants $500K in restricted stock
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
