Fossil Energy – Oil Discovery
U.S. shale producer Occidental Petroleum has discovered oil at the Bandit prospect in the Gulf of Mexico, about 125 miles south of the Louisiana coast.
Occidental co-owns the prospect with Chevron and Woodside Energy.
Bandit is operated by Occidental, which holds a 45.375% working interest. U.S. oil major Chevron has 37.125% and Australia-based Woodside Energy 17.5%.
“We believe this discovery demonstrates the continued importance of the Gulf of Mexico as a strategic source of reliable domestic oil supply that supports long-term energy security,” said Occidental executive Jeff Simmons to Reuters.
“We are evaluating results to determine next steps and that the discovery has the potential for subsea tie-backs to an Occidental-operated facility and others nearby.”
