Brief: Chevron sanctions stampede project in the deepwater U.S. Gulf of Mexico

Nexen

29/10/2014 24:16

Oct 28 (Reuters) - Chevron  CVX.N : 
 * Sanctions stampede project in the deepwater U.S. Gulf of Mexico 
 * Says . stampede is a deepwater subsea development, which will be tied-back to 
   a newly constructed tension leg platform 
 * Says has reached a final investment decision to proceed with the development 
   of the Hess Corporation operated stampede project 
 * Says drilling is planned to commence in the fourth quarter 2015 with first 
   production expected in 2018 
 * Says the drilling program includes a total of six production and four water 
   injection wells 
 * Project design capacity will be 80,000 barrels of crude oil per day 
 * Says the stampede field has total estimated recoverable resources in excess 
   of 300 million barrels of oil equivalent 
 * Says the Chevron subsidiary has a 25 percent working interest in the 
   development 
 * Says stampede project cost is expected to be approximately $6 billion 
 * Other co-owners of the stampede project include Statoil and Nexen 
 
* Source text for Eikon  ID:nBw17sPHca  
 
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