March 25 Chevron Corp said it discovered
oil at one of its wells in the U.S. Gulf of Mexico.
Chevron said the Walker Ridge Block 98 well in the deepwater
Coronado prospect encountered more than 400 feet of net pay --
thickness of an oil reservoir that can produce hydrocarbons.
Chevron holds 40 percent working interest in the prospect
and is the operator of the Coronado discovery well. The well is
located about 190 miles off the Louisiana coast.
Other owners of the prospect are ConocoPhillips with
35 percent stake, a unit of Anadarko Petroleum Corp with
15 percent and Venari Offshore LLC with 10 percent stake.