Oil & Gas News

Chevron Announces Natural Gas Discovery Offshore Australia

Elfin-1 discovery grows unrivalled natural gas portfolio in Australia

Chevron Corporation (NYSE: CVX) announced  Tuesday, further drilling success by its Australian subsidiary in the Exmouth Plateau area, located in the Carnarvon Basin.

ChevronMap

Since mid-2009, Chevron made 21 discoveries offshore western Australia, adding 10 trillion cubic feet of resources.

The Elfin-1 exploration discovery well encountered approximately 132 feet (40 meters) of net gas pay in the upper Mungaroo sands. It is Chevron's 21st discovery offshore western Australia since mid-2009.

Located in the WA-268-P permit area, the well is located approximately 106 miles (170 kilometers) northwest of Barrow Island and was drilled in 3,570 feet (1,088 meters) of water to a total depth of 11,909 feet (3,630 meters).

"Elfin-1 is a demonstration of our continued industry leading exploration success," said George Kirkland, vice chairman, Chevron Corporation.  "These discoveries build a platform for future growth for Chevron."

Melody Meyer, president, Chevron Asia Pacific Exploration and Production Company said "This remarkable series of exploration discoveries in the Carnarvon Basin has created a robust gas portfolio in Australia. The growth of this portfolio positions the company to supply future LNG demand in the Asia Pacific region."

Chevron Australia is the operator of WA-268-P with a 50 percent interest while Shell Development Australia and Mobil Australia Resources each hold a 25 percent interest.

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