Chevron Unlocks More Gas Discoveries in WA’s Carnarvon Basin

By International Business Times,  December 27, 2012, 10:43:50 PM EDT

Chevron Australia has unlocked more gas discoveries in the Carnarvon Basin, off Western Australia, bringing its total discovery haul to 19 just in the area alone.

In a statement on Friday, Chevron said it encountered about 60 metres and about 45.5 metres of net gas pay from its Pinhoe-1 and Arnhem-1 wells, respectively.

The discoveries bring positive news that its Gorgon and Wheatstone gas-export projects could be bigger than what earlier resource figures indicated. However, the new discoveries may be more expensive to develop since they are far away located from the coast.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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