Chevron Announces Natural Gas Discovery Offshore Australia

Chevron Announces Natural Gas Discovery Offshore Australia

Elfin-1 discovery grows unrivalled natural gas portfolio in Australia
Chevron Corporation (NYSE: CVX) today announced further drilling success by its Australian subsidiary in the Exmouth Plateau area, located in the Carnarvon Basin.
The Elfin-1 exploration discovery well encountered approximately 132 feet (40 meters) of net gas pay in the upper Mungaroo sands. It is Chevron’s 21st discovery offshore western Australia since mid-2009.
Located in the WA-268-P permit area, the well is located approximately 106 miles (170 kilometers) northwest of Barrow Island and was drilled in 3,570 feet (1,088 meters) of water to a total depth of 11,909 feet (3,630 meters).
“Elfin-1 is a demonstration of our continued industry leading exploration success,” said George Kirkland, vice chairman, Chevron Corporation. “These discoveries build a platform for future growth for Chevron.”
Melody Meyer, president, Chevron Asia Pacific Exploration and Production Company said, “This remarkable series of exploration discoveries in the Carnarvon Basin has created a robust gas portfolio in Australia. The growth of this portfolio positions the company to supply future LNG demand in the Asia Pacific region.”
Chevron Australia is the operator of WA-268-P with a 50 percent interest while Shell Development Australia and Mobil Australia Resources each hold a 25 percent interest.
Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
Source: Chevron Corporation
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