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Chevron Announces the Successful Appraisal of the Anchor Discovery in the Deepwater Gulf of Mexico

Anchor is located approximately 140 miles (225 km) off the coast of Louisiana. (Graphic: Business Wire)

SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE:CVX) today announced the successful appraisal of the Anchor discovery in the Lower Tertiary Wilcox Trend.

“After the success of the discovery well announced earlier this year, we have pursued appraisal work to further evaluate the results and assess development alternatives to optimize value creation”

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“The positive results of our appraisal work at Anchor indicate a significant discovery of potentially hub class scale,” said Jay Johnson, executive vice president Upstream, Chevron Corporation.

The original Anchor discovery well, located in Green Canyon Block 807, approximately 140 miles (225 km) off the coast of Louisiana in 5,180 feet of water (1,579 m), was drilled in late 2014 to a depth of 33,750 feet (10,287 m) and it encountered 690 feet (210 m) of net oil pay.

Appraisal drilling began in June 2015 and recently found 694 feet (211 m) of net oil pay. To date, Chevron has confirmed a hydrocarbon column of at least 1,800 feet (549 m) in the Lower Tertiary Wilcox reservoirs at Anchor. Complete appraisal of the field will require further delineation wells and technical studies.

“After the success of the discovery well announced earlier this year, we have pursued appraisal work to further evaluate the results and assess development alternatives to optimize value creation,” Jeff Shellebarger, President, Chevron North America...


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