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"We have industry leading expertise in developing deepwater projects of this type and have repeatedly proven that we can do so safely," said Gary Luquette, president, Chevron North America Exploration and Production Company. Discovered in 2006, the Big Foot field lies in the Walker Ridge Area and is estimated to contain total recoverable resources in excess of 200 million oil-equivalent barrels. Primary pay sands are Middle to Upper Miocene ranging from 19,000 to 24,000 feet (5,800 to 7,300 m) and lie below a salt canopy ranging from 8,000 to 15,000 feet (2,400 to 4,500 m) thick. Three exploration and appraisal wells with multiple sidetracks have been drilled safely and successfully in the field to define the Big Foot structure. Chevron, through its subsidiary Chevron U.S.A. Inc., has a 60 percent working interest in the Big Foot project. Chevron is one of the top leaseholders in the Gulf of Mexico, averaging net daily production of 149,000 barrels of crude oil, 484 million cubic feet of natural gas and 14,000 barrels of natural gas liquids during 2009. Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company's success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including bio-fuels. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com. Chevron Corporation |
Chevron Sanctions Big Foot Project in the Deepwater Gulf of Mexico