Chevron, Occidental Petroleum, and Woodside Energy confirmed a significant oil discovery at the Bandit prospect in the deepwater Gulf of Mexico.
The exploration well is located in Green Canyon Block 680.
The site sits approximately 125 miles off the Louisiana coast.
Drilling operations encountered high-quality, oil-bearing Miocene sands.
The partners consider the find commercially significant due to its proximity to existing Occidental Petroleum infrastructure.
Utilizing subsea tie-backs to nearby facilities would reduce costs and accelerate production timelines.
The companies are currently evaluating well data to determine future appraisal and development plans.