Chevron's New Oil Find May Help Increase U.S. Reserves

U.S. Gulf of Mexicio Jack #2 well tests seen as 'encouraging.'

Chevron Corp. announced Tuesday that it successfully completed a record setting production test on the Jack #2 well at Walker Ridge Block 758 in the U.S. Gulf of Mexico.

The well was completed and tested in 7,000 feet of water, 28,175 feet under the sea floor, making it the deepest successful well test in the Gulf of Mexico.

During the test, the well sustained a flow rate of over 6,000 barrels per day and the test represented 40 percent of the total net pay measured in the Jack #2 well. In 2007, Chevron and its co-owners plan to drill an additional appraisal well.

In a statement, Statoil, who shares interest in the well with Chevron, said, “The Jack 2 well test data are encouraging and may form the basis of future development projects in Walker Ridge."

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