By OGJ editors
HOUSTON, July 12 -- Chevron USA Inc. and a group of Canadian companies plan to search an underexplored area of the San Joaquin basin in sprawling Kern County for 15-25° gravity oil.
The companies plan to shoot 33 sq miles of high-definition 3D seismic surveys starting in the third quarter in an area where little 2D seismic has been shot.
The search is for 3-5 million bbl of oil in fault-controlled structures each as small as 40 acres in the Tertiary section from Chanac through Vedder at 1,200-3,000 ft. Leasing continues.
Chevron will contribute 16,000 gross acres and California Oil & Gas Corp., Calgary, and three Canadian partners will put up 3,000 gross acres. After three wells are drilled on mutually agreed prospects, Chevron and the partners will each own 50% interest in the land and wells.
California Oil & Gas is operator for the seismic survey and drilling, and Chevron will operate producing wells and purchase the oil.