Chevron Reports Significant Oil Discovery - Quick Facts

(RTTNews) - Chevron Corp. (CVX) announced a significant oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. The Green Canyon Block 807 Well No. 2 encountered oil pay in multiple Lower Tertiary Wilcox Sands. The well was spudded in August 2014. Appraisal drilling will begin in 2015. The company noted that Anchor is its second discovery in the deepwater Gulf in less than a year.

Chevron subsidiary Chevron U.S.A. Inc. is the operator, with a 55 percent working interest in the Anchor prospect. Anchor co-owners are Cobalt International Energy, Inc., Samson Offshore Anchor, LLC; and Venari Resources LLC.