Partners find oil in Buckskin prospect in gulf

Partners in the deepwater Gulf of Mexico made and oil discovery with their Buckskin No. 1 well, which found more than 300 ft of net pay.

Feb 6th, 2009

By OGJ editors
HOUSTON, Feb. 6 -- Partners in the deepwater Gulf of Mexico made and oil discovery with their Buckskin No. 1 well, which found more than 300 ft of net pay. The well was drilled to 29,404 ft total depth on Keathley Canyon Block 872 in 6,920 ft of water about 190 miles southeast of Houston, said Chevron Corp., a partner and 55% interest holder.

Chevron said the new well lies 44 miles west of its 2004 Jack discovery, which was also in the lower tertiary. More tests are being conducted on data gathered from the well, and additional work at the prospect will be needed to determine the extent and commercial viability of the discovery, the company said.

Repsol YPF SA, with a 12.5% working interest in the prospect, was the operator of the Buckskin discovery well, but Chevron will become operator and conduct all future work. Other Buckskin coowners are Maersk Oil America 20% and Samson Offshore Co. 12.5%.

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