Occidental makes oil discovery in US Gulf
Key Highlights
- Occidental Petroleum Corp. confirmed an oil discovery at the Bandit prospect in the US Gulf.
- The discovery has the potential for subsea tieback development.
Occidental Petroleum Corp. discovered oil at the Bandit prospect in the US Gulf of Mexico about 125 miles south of the Louisiana coast and is workign with partners to determine next steps.
The exploration well, in Green Canyon Block 680, encountered high-quality, full-to-base oil-bearing Miocene sands.
The operator and partners are advancing appraisal and development planning for the discovery, which has the potential for subsea tie-backs to an adjacent Occidental-operated platform and others in the area.
Bandit is operated by Occidental, which holds a 45.375% working interest. Partners are Chevron USA Inc. (37.125%) and Woodside Energy (17.5%).