Chevron strikes oil at Bandit prospect in US Gulf

Chevron confirmed an oil discovery at the Bandit prospect in the US Gulf of Mexico, located in Green Canyon Block 680 approximately 125 miles south of the Louisiana coast.

The exploration well encountered high-quality, full-to-base oil-bearing Miocene sands. Bandit is operated by Occidental, which holds a 45.375% working interest. Chevron holds a 37.125% working interest and Woodside Energy holds 17.5%. The co-owners are evaluating results to determine next steps.

The discovery has the potential for subsea tiebacks to an adjacent Occidental-operated facility and others in the nearby area.