SAN RAMON, Calif., Aug. 17 (UPI) -- A new natural gas discovery off the coast of Western Australia is the most significant find in the area, U.S. oil and gas company Chevron announced.
Chevron said it drilled its Acme-1 exploration well more than 90 miles off the coast of Western Australia. The company encountered 896 feet of net gas pay in the well after drilling to a depth of 15,469 feet in 2,880 feet of water.
George Kirkland, the vice chairman at Chevron, said the well signaled the ninth in the region for the company in the past 12 months.
"In terms of net gas pay, Acme-1 is one of our most significant natural gas discoveries in Australia," he added.
Kirkland last week said he was "encouraged" by a gas pay of about 49 feet discovered in the Brederode-1 exploration well in the same area last week.
Chevron said it was investing heavily in the Australian energy sector because of the significant growth potential.
