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Chevron hits pay at Guadalupe (KC 10) in US GoM Lower Tertiary

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Report summary

Chevron announced 23 October 2014 that it had made a significant oil discovery at its Guadalupe prospect in Keathley Canyon block 10. If commercial this will be Chevron's fifth operated Lower Tertiary field in the US deepwater Gulf of Mexico. A scenario with 300 mmboe in reserves similar to BP's Kaskida field would generate over US$900 million in value as a standalone development. A joint development with BP's nearby discoveries Tiber and Gila could double NPV to US$1.7 billion.

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