Chevron Encounters Gas in Satyr-4 Offshore Australia

Chevron Corporation announced further drilling success by its Australian subsidiary in the Greater Gorgon Area, located in the Carnarvon Basin, a premier hydrocarbon basin.

The Satyr-4 exploration discovery well confirmed approximately 220 feet (67 meters) of net gas pay. The well is located in the WA-374-P1 permit area approximately 75 miles (120 kilometers) northwest of Barrow Island, off the Western Australian coast. The well was drilled in 3,570 feet (1,088 meters) of water to a total depth of 15,023 feet (4,579 meters).

This latest discovery is a further demonstration of how we are achieving superior success from a focused and high-impact exploration program in a key hydrocarbon basin,” said George Kirkland, vice chairman, Chevron Corporation.

Melody Meyer, president, Chevron Asia Pacific Exploration and Production Company, said, “Satyr-4 further underscores Chevron’s continuing success in this prolific block and supports our long-term growth plan for the Gorgon Project, and our goal to be a leading LNG supplier to the Asia Pacific region.”

Chevron Australia is the operator of WA-374-P with a 50 percent interest while Shell Development (Australia) Pty Ltd and Mobil Australia Resources Company Pty Limited each hold 25 percent.

Press Release, October 25, 2012

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