Chevron encountered more than 400 ft (122m) of net oil pay at its deepwater Coronado prospect well No.1 in the Gulf of Mexico, the company announced on 25 March 2013.
Coronado comprises Walker Ridge Block 98. The No. 1 well is located approximately 190 miles (308 km) off the Louisiana coast in 6,127 ft (1,868 m) of water and was drilled to a depth of 31,866 ft (9,713 m).
"The Coronado discovery continues our string of exploration successes in the Lower Tertiary Trend, where Chevron is advancing multiple projects," said Gary Luquette, president, Chevron North America Exploration and Production Company. "It also highlights the importance of the deepwater Gulf of Mexico as a source of domestic energy for the United States."
Chevron said that thee well results are under evaluation, and additional work is needed to determine the extent of the resource. Chevron operates Coronado with 40% working interest. Its partners include ConocoPhillips (35%), Anadarko (15%), and Venari Offshore LLC (10%).
The Pacific Santa Ana (pictured) drillship is under a five-year contract for Chevron in the Gulf. Transocean drillships Discoverer Inspiration and Discoverer Clear Leader are operating on the Jack/St. Malo prospects, scheduled to begin production in 2014.