The company identified oil pay at the Green Canyon Block 807 Well No. 2 in multiple lower tertiary wilcox sands.
Chevron Upstream senior vice president Jay Johnson said: "The Anchor discovery, along with the previously announced Guadalupe discovery, are significant finds for us in the deepwater Gulf of Mexico.
"We had one of our best years with the drill bit in 2014, reporting more than 30 discoveries worldwide and adding an estimated one billion barrels of new resources to our holdings."
Located approximately 225km off the coast of Louisiana in 5,183ft of water, the well was drilled to a depth of 33,749ft.
Chevron North America Exploration and Production Company president Jeff Shellebarger said: "Chevron’s leading position in the Gulf, where we are expecting further growth in the near-term from recent project startups at Jack/St. Malo and Tubular Bells, is further underpinned by this discovery.
"We currently have five deepwater drillships operating in the Gulf, two of which are focused on exploration activities."
Chevron subsidiary Chevron U.S.A. operates the Anchor prospect with a 55% working interest while the other co-owners include Cobalt International Energy (20%), Samson Offshore Anchor (12.5%) and Venari Resources (12.5%).
