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Chevron Eyes US Gulf Growth, Plans New Wildcat
Posted on 2/16/23 at 7:53 am
Posted on 2/16/23 at 7:53 am
quote:
Chevron is preparing to drill a new exploration well in the US Gulf of Mexico in the coming months as it targets significant production growth in the deepwater play over the next few years.
The US supermajor has filed an exploration plan with offshore regulators and confirmed that it plans to spud a wildcat called “Polyphemus” in the first half of 2023.
The well will be located in Mississippi Canyon Block 608 (MC 608), one block to the east of the company’s Ballymore discovery, a field that will underpin that company’s plans to increase production from the US Gulf to more than 300,000 barrels of oil equivalent per day by 2026.
It will likely be Chevron’s first operated exploration well in the US Gulf since last year’s unsuccessful Starman probe. The company has become more selective in its upstream projects in the US Gulf, favoring a “drill to fill” strategy focused around existing hubs rather than aggressive greenfield growth.
Chevron has allocated more than 20% of its budgeted $11.5 billion in upstream capital spending for projects in the US Gulf in 2023.
quote:
Chevron is the third largest producer in the US Gulf behind European giants Shell and BP, both of which look poised to boost production to more than 400,000 boe/d by mid-decade.
quote:
The Polyphemus well will be drilled in MC 608, according to Chevron’s exploration plan that was approved last month. US records show no drilling permit currently filed, but the lease is set to expire at the end of June.
Gulf sources say Chevron will be targeting a prospect in the Jurassic-aged Norphlet trend, similar to Ballymore. Only Shell has successfully produced from the technically challenging Norphlet to date, becoming the first operator to do so when its Appomattox project came on line in 2019.
quote:
Chevron confirmed that it operates Polyphemus with a 60% stake. Anadarko US Offshore (now Occidental Petroleum), which originally leased the block in 2013, now owns 40%.
LINK
More, consistent GOM activity certainly helps those Highway 90 and LA 1 service businesses and the economies down those paths. Good news here!
9
Posted on 2/16/23 at 7:56 am to ragincajun03
This spot saved for a truck nutz comment
This post was edited on 2/16/23 at 7:57 am
Posted on 2/16/23 at 8:05 am to ragincajun03
quote:
Chevron Eyes US Gulf Growth, Plans New Wildcat
Good to see actual real employees doing their jobs in oil companies instead of the bloated HR, diversity and bullshite climate change worthless desk donkeys that have infiltrated our corporations
Posted on 2/16/23 at 8:09 am to ragincajun03
Truck nuts [on] off
ETA. frick
ETA. frick
This post was edited on 2/16/23 at 8:09 am
Posted on 2/16/23 at 8:10 am to ragincajun03
Won’t be the last one they plan to drill this year…
Posted on 2/16/23 at 8:12 am to texag7
quote:
Good to see actual real employees doing their jobs in oil companies instead of the bloated HR, diversity and bullshite climate change worthless desk donkeys that have infiltrated our corporations
It’s been my experience that those who are actually responsible for the planning and execution of real operations pay very little, if any, attention to that side bullshite that doesn’t produce a single profitable commodity.
Posted on 2/16/23 at 8:12 am to ragincajun03
Looks like tar balls are back on the menu boys
Posted on 2/16/23 at 8:26 am to ragincajun03
quote:
It’s been my experience that those who are actually responsible for the planning and execution of real operations pay very little, if any, attention to that side bullshite that doesn’t produce a single profitable commodity.
Tangent time:
I brought our new "Sustainability Engineer" (she isn't an engineer) on a rig tour this week. She had never been on a rig, despite working in O&G for several years.
She sets ESG initiatives for the company, that these men have to follow, often making their jobs more expensive and hindering their targets.
They were nice and accommodating to her, despite the fact that she knew so little about the actual operations that she couldn't even ask relevant questions.
When we got back in my truck to leave, her first comment was "You know, there seems to be a bit of a disconnect between Corporate and field operations."
I just chuckled "Yeah. A bit."
Posted on 2/16/23 at 8:28 am to Salmon
quote:
I just chuckled "Yeah. A bit."
but what did she think about your truck nuts?
Posted on 2/16/23 at 8:30 am to el Gaucho
GoM is booming and will continue to do so.
I'm currently drilling in the Shenandoah field which lies 160 miles off the coast of Louisiana in Walker Ridge Blocks 51, 52, and 53. It is expected to come online as early as late 2024. We're drilling four wells to develop an estimated 100-400 million bbl, targeting previously discovered oil-bearing Upper and Lower Wilcox reservoirs. First 20K wells in the gulf at 32,000'. This oil we're drilling for, is supposed to be the cleanest and easiest to refine oil in the GoM. Which will have a lower carbon emission. pretty cool stuff.
I'm currently drilling in the Shenandoah field which lies 160 miles off the coast of Louisiana in Walker Ridge Blocks 51, 52, and 53. It is expected to come online as early as late 2024. We're drilling four wells to develop an estimated 100-400 million bbl, targeting previously discovered oil-bearing Upper and Lower Wilcox reservoirs. First 20K wells in the gulf at 32,000'. This oil we're drilling for, is supposed to be the cleanest and easiest to refine oil in the GoM. Which will have a lower carbon emission. pretty cool stuff.
Posted on 2/16/23 at 8:38 am to Potchafa
quote:
Which will have a lower carbon emission.
Barrels of oil produced in the Gulf of Mexico are the lowest carbon barrels of oil produced anywhere in the world.
So when Liberals say they care about climate change, they should support drilling in the gulf.
Posted on 2/16/23 at 8:41 am to Salmon
quote:
When we got back in my truck to leave, her first comment was "You know, there seems to be a bit of a disconnect between Corporate and field operations."
I just chuckled "Yeah. A bit."
I’m in a corporate office, but I like to put people on speaker phone so I can multi-task. For years I’ve kept a mental list of those guys out of the field offices whom when they call, I need to shut my door first.
Always enjoy being able to hang out with those folks when out in the field. Makes one really appreciate how fun and exciting the industry can be, while still full of its challenges and seeming non-stop emergencies.
I tell young folks who join our team that while our disciple does not technically require knowing all those field operations folks do, the more you can hang out with them a bit on the sites from time to time and pick their brains, the better asset you will be even based in the corporate office. Get outside the four walls of the nice city buildings and learn the realities of the industry.
This post was edited on 2/16/23 at 8:47 am
Posted on 2/16/23 at 8:54 am to ragincajun03
Chevron still requiring COVID vaccines, hope it comes up dry!!!
Posted on 2/16/23 at 9:00 am to Potchafa
quote:
This oil we're drilling for, is supposed to be the cleanest and easiest to refine oil in the GoM. Which will have a lower carbon emission. pretty cool stuff.
Why haven’t we drilled it before? Difficulty extracting it?
Posted on 2/16/23 at 9:13 am to Oilfieldbiology
This field requires 20k psi well control rig equipment. Until my drillship arrived here in October, all rigs were only rated for 15k psi. These wells are freaking beast's.
Posted on 2/16/23 at 9:13 am to Potchafa
quote:
This field requires 20k psi well control rig equipment.
damnPosted on 2/16/23 at 9:28 am to Potchafa
quote:
This field requires 20k psi well control rig equipment. Until my drillship arrived here in October, all rigs were only rated for 15k psi. These wells are freaking beast's.
You drive around with the XXXL truck nuts, don’t you?
Posted on 2/16/23 at 10:51 am to Potchafa
quote:
This field requires 20k psi well control rig equipment. Until my drillship arrived here in October, all rigs were only rated for 15k psi. These wells are freaking beast's.
Davy Jones all over again?
Posted on 2/16/23 at 10:56 am to lostinbr
The bottom hole temp isn't nearly as high as Davy Jones. So it's achievable even with the high production zone pressures.
Posted on 2/16/23 at 10:57 am to ragincajun03
So they are going to bring jobs back to Louisiana or do they just plan to rape our coastline?
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