Houston-based energy company Occidental (Oxy) has revealed a new oil discovery in the Gulf of America (US Gulf of Mexico) region.
Occidental revealed an oil discovery in Bandits A prospect in America’s Gulf, about 125 miles south of the Louisiana coast.
The exploratory well, located in Green Canyon Block 680, encountered high-grade, fully oil-bearing Miocene sands.
Jeff SimmonsSenior Vice President of Subsurface Technology and Chief Petrotechnologist commented: “Occidental is focused on strengthening our portfolio in the US Gulf.
“We believe this discovery demonstrates the continued importance of the American Gulf as a strategic source of reliable domestic oil supplies that support long-term energy security.”
Bandit is operated by Occidental, which has a 45.375% operating interest, and includes co-owners, Chevron USA Inc. (37.125%) and Woodside Energy (17.5%).
The operator and co-owners are currently evaluating the results to determine next steps, including the prospect of exploring a subsea tie-up to an adjacent facility operated by Occidental and others in the vicinity.
Oxy I achieved successes regarding its plan to reduce debt in February 2025 by reaching a near-term debt repayment target and signing two agreements to offload upstream assets to undisclosed buyers.
Boost your brand with marine energy ⤵️
Steal the spotlight and establish your brand in the heart of the outside world!
Join us to make a greater impact and grow your presence at the core of the marine energy community!
