Chevron to spend $4 billion on Big Foot field in gulf
By OGJ editors
HOUSTON, Dec. 16 -- Chevron Corp. plans to spend $4 billion to develop Big Foot oil and gas field in the deepwater Gulf of Mexico.
Big Foot field lies in 5,200 ft of water about 225 miles south of New Orleans. Discovered in 2006, Chevron estimates Big Foot field contains more than 200 million boe of total reserves.
Chevron plans to use an extended tension-leg platform with an onboard drilling rig and production capacity of 75,000 b/d of oil and 25 MMcfd of natural gas.
Oil production is scheduled to start in 2014. Primary pay sands are Middle to Upper Miocene. Three exploration and appraisal wells with multiple sidetracks have been drilled.
Chevron USA Inc. has a 60% working interest in the Big Foot project.