Chevron discovered oil at the Bandit prospect in Green Canyon Block 680. The exploration well encountered high-quality, oil-bearing Miocene sands in the deepwater U.S. Gulf of Mexico.
Occidental operates the project with a 45.375% stake. Chevron holds a 37.125% interest. Woodside Energy maintains the remaining 17.5% share.
The co-owners are evaluating results to plan for appraisal and development. The partners may tie the discovery back to existing nearby facilities to deliver competitive barrels.