Chevron Announces Two Natural Gas Finds in Australia
Chevron Australia Pty Ltd, a subsidiary of Chevron Corporation (NYSE: CVX), today announced two natural gas discoveries in the Carnarvon Basin offshore Western Australia. The discoveries are located in Australia’s premier hydrocarbon basin, where Chevron is the leading lease holder. The Clio-2 well, located 90 miles (150 kilometers) off the coast of Western Australia, is situated in 3,200 feet (990 meters) of water and drilled to a total depth of 14,400 feet (4,405 meters). The well discovered 375 feet (115 meters) of net gas pay.
The company also made a discovery with the Kentish Knock-1 well. Drilled in approximately 4,000 feet (1,200 meters) of water to a total depth of approximately 8,300 feet (2,500 meters), the well encountered approximately 110 feet (34 meters) of net gas pay. The discovery at the Kentish Knock prospect is located approximately 185 miles (300 kilometers) from the Western Australian coastline.
“These two gas finds add to Chevron’s significant gas interests in Australia,” said George Kirkland, executive vice president, Global Upstream and Gas, Chevron Corporation. “Our exploration success, combined with our development plans for our Gorgon and Wheatstone projects, underpin our future growth prospects in Australia.”
The Clio-2 well is in the WA-205-P permit area. It is located near the significant Clio-1 discovery made by Chevron in 2006. Chevron Australia is the operator with 66.66 percent interest while Shell Development (Australia) holds the remaining interest.
The Kentish Knock-1 well is located in the WA-365-P permit area in the Exmouth Plateau, the deepwater frontier of the Carnarvon Basin. Chevron Australia also operates permit WA-365-P with a 50 percent interest while Shell Development (Australia) holds the remaining interest.
