Occidental announced on April 9 an oil discovery at the Bandit prospect in the Gulf of America, approximately 125 miles south of the Louisiana coast. The well, located in Green Canyon Block 680, encountered high-quality, full-to-base oil-bearing Miocene sands.
The announcement is significant as it highlights ongoing exploration and production efforts in the Gulf of America, which remains a key area for domestic energy supply. Occidental operates the Bandit prospect with a 45.375% working interest, alongside co-owners Chevron U.S.A. Inc., holding 37.125%, and Woodside Energy with a 17.5% stake.
The company said that it and its partners are currently evaluating results to determine next steps for development. The discovery could allow for subsea tie-backs to nearby Occidental-operated facilities or others in the area.
“Occidental is focused on strengthening our Gulf of America portfolio,” said Jeff Simmons, Senior Vice President, Subsurface Technology and Chief Petrotechnical Officer. “We believe this discovery demonstrates the continued importance of the Gulf of America as a strategic source of reliable domestic oil supply that supports long-term energy security.”
Occidental describes itself as an international energy company engaged in producing, marketing and transporting oil and natural gas while advancing lower-carbon technologies through carbon management initiatives. The company is headquartered in Houston and operates primarily across the United States, Middle East and North Africa.
The news release included cautionary statements regarding forward-looking information about project plans or outcomes due to various risks such as economic conditions, commodity price fluctuations, regulatory approvals or capital resource availability.
