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Occidental Strikes Oil in Gulf of Mexico [Yahoo! Finance]
Last chevron corporation earnings: 5/1 06:45 am
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US:NYSE Investor Relations: chevron.com/investors
The find, located about 125 miles south of Louisiana, is jointly owned with Chevron and Woodside Energy. Occidental operates the project with a 45.375% stake, while Chevron holds 37.125% and Woodside 17.5%. While full resource estimates have yet to be disclosed, the companies are assessing the discovery's commercial potential. Early indications suggest it could be developed via subsea tie-backs, allowing the field to connect to existing offshore infrastructure—potentially speeding up production timelines and reducing costs. The discovery comes as offshore U.S. production gains renewed attention. The Gulf accounts for roughly 15% of U.S. crude output, making it a critical pillar of domestic energy security—especially as global markets remain volatile due to geopolitical tensions, including disruptions around the Strait of Hormuz. Occidental said the find reinforces the strategic role of the Gulf in providing reliable supply, particularly at a time when international energy flows
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