Occidental and its co-owners are evaluating results to determine next steps
Occidental has announced an oil discovery at the Bandit prospect in the Gulf of America, about 125 miles south of the Louisiana coast. The exploration well, located in Green Canyon Block 680, encountered high-quality, full-to-base oil-bearing Miocene sands.
Bandit is operated by Occidental, which holds a 45.375% working interest, and includes co-owners Chevron U.S.A. Inc. (37.125%) and Woodside Energy (17.5%). The co-owners are currently evaluating results to determine next steps. The discovery has the potential for subsea tie-backs to an adjacent Occidental-operated facility and others in the nearby area.
'Occidental is focused on strengthening our Gulf of America portfolio,' said Jeff Simmons, Senior Vice President, Subsurface Technology and Chief Petrotechnical Officer. 'We believe this discovery demonstrates the continued importance of the Gulf of America as a strategic source of reliable domestic oil supply that supports long-term energy security.'
Source: Occidental
