HOUSTON, Jan 26 - Chevron Corp (CVX.N), the second-largest U.S. oil company, on Tuesday reported another natural gas find in the Carnarvon Basin off Western Australia.
The Yellowglen-1 discovery well, located about 150 miles (250 kilometers) northwest of Onslow, was drilled to a total depth of 9,050 feet (2,760 meters). Results indicate a gas column of approximately 450 feet (137 meters), Chevron said.
The find follows two other discoveries in the same area and demonstrates the significance of Australia to Chevron, Vice Chairman George Kirkland said in a statement.
Chevron leads the $39 billion Gorgon liquefied natural gas (LNG) projects off northwest Australia, aimed at tapping growing demand for gas in Asia.
For example Chevron on Tuesday said it signed an agreement with Japan's Kyushu Electric Powers Co (9508.T) for LNG from the Wheatstone project in Australia.
Shares of Chevron dipped 2 cents to $74.53 in morning trade on the New York Stock Exchange.
The Yellowglen-1 discovery well, located about 150 miles (250 kilometers) northwest of Onslow, was drilled to a total depth of 9,050 feet (2,760 meters). Results indicate a gas column of approximately 450 feet (137 meters), Chevron said.
The find follows two other discoveries in the same area and demonstrates the significance of Australia to Chevron, Vice Chairman George Kirkland said in a statement.
Chevron leads the $39 billion Gorgon liquefied natural gas (LNG) projects off northwest Australia, aimed at tapping growing demand for gas in Asia.
For example Chevron on Tuesday said it signed an agreement with Japan's Kyushu Electric Powers Co (9508.T) for LNG from the Wheatstone project in Australia.
Shares of Chevron dipped 2 cents to $74.53 in morning trade on the New York Stock Exchange.
