Located about 216 miles off the Louisiana coast in the Keathley Canyon Block 736 in 6,759ft of water, the well was drilled to a depth of 31,545ft and encountered more than 380 feet of net pay in the Lower Tertiary Wilcox Sands.
The company said that the well results are still being evaluated, and additional work will be required to determine the extent of the resource.
Chevron vice chairman George Kirkland said the Moccasin discovery underscores the importance of the deepwater Gulf of Mexico as a source of domestic energy for the US and as a focus area for Chevron’s worldwide exploration portfolio.
Chevron holds a 43.75% working interest in the Moccasin prospect, while BP and Samson Offshore hold 43.75% and 12.5% interests, respectively.
