Chevron Corp. (NYSE:CVX) has successfully appraised its Anchor discovery, confirming a hydrocarbon column of at least 549 m (1,800 ft) in the Lower Tertiary Wilcox reservoirs, the company said in a news release.

“The positive results of our appraisal work at Anchor indicate a significant discovery of potentially hub class scale,” said Jay Johnson, executive vice president upstream, Chevron.

Appraisal drilling began in June 2015 and recently found 211 m (694 ft) of net oil pay. Complete appraisal of the field will require further delineation wells and technical studies, the release said.

The original Anchor discovery well, located in Green Canyon Block 807, about 140 miles (225 km) off the coast of Louisiana in 1,579 m (5,180 ft) of water, was drilled in late 2014 to a depth of 10,287 m (33,750 ft) and it encountered 210 m (690 ft) of net oil pay.

"After the success of the discovery well announced earlier this year, we have pursued appraisal work to further evaluate the results and assess development alternatives to optimize value creation," added Jeff Shellebarger, president, Chevron North America Exploration and Production Co.

Chevron subsidiary Chevron U.S.A. Inc. is the operator of the Anchor Prospect, with a 55% working interest. Anchor co-owners are Cobalt International Energy, 20%; Samson Offshore Anchor, 12.5% and Venari Resources, 12.5%.

Offshore