LNG

Jan - 19 - Chevron Corp. announced a natural gas discovery in the Exmouth Plateau area of the Carnarvon Basin, offshore Western Australia, underpinning its LNG feed-gas resources. The Satyr-3 well encountered around 243 feet (74 meters) of net gas pay. The well is located 182 kilometers north of Exmouth in the WA-374-P permit area, and was drilled in 1,124 metres of water to a depth of 4,075 metres. The company is currently developing the wheatstone LNG project from feed-gas in the area. George Kirkland, Vice Chairman of Chevron, said: "Satyr-3 represents our 13th offshore discovery in Australia since mid-2009. This recent discovery reinforces the quality and value of our Australian exploration lease holdings in the Carnarvon Basin."