Chevron Finds Gas In Australia

Onslow, Australia (BGN) – Chevron announced on Monday it has discovered new oil reserves in Western Australia.

The reserve, dubbed “Acme-1,” is the largest reserve discovered by Chevron in Australia in the past 12 months. Acme-1 is located roughly 93 miles from Onslow.

Chevron Finds Gas In Australia

The exploration discovery well, dubbed “Acme-1,” is located in the WA-205-P permit area offshore Western Australia approximately 93 miles (150 km) from Onslow. Drilled in 2,880 feet (878 m) of water to a depth of 15,469 feet (4,715 m), the well encountered approximately 896 feet (273 m) of net gas pay.

Acme-1 is a major boon for Chevron. George Kirkland, vice chairman of the company, said, “In terms of net gas pay, Acme-1 is one of our most significant natural gas discoveries in Australia. As our ninth and largest offshore discovery in Western Australia in the last 12 months, it underscores the quality of our drilling program and our commitment to technical excellence and safe operations.”

Chevronis one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide.