Published: April 14, 2026 |

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Chevron has confirmed an oil discovery at the Bandit prospect in the Gulf of America. The exploration well is located in Green Canyon Block 680, about 125 miles south of the Louisiana coast.

The well encountered high-quality, full-to-base oil-bearing Miocene sands. The co-owners are currently evaluating results to determine next steps. The discovery has the potential for subsea tie-backs to an adjacent Occidental-operated facility and others in the nearby area.

Bandit is operated by Occidental, which holds a 45.375 percent working interest, and is co-owned by Chevron subsidiary Chevron U.S.A. (37.125 percent working interest), and Woodside Energy (17.5 percent working interest).

“Bandit demonstrates our exploration strategy in action and reinforces the high-quality opportunities in the prolific deepwater Gulf of America. We are working with our co-owners to advance appraisal and development planning in a disciplined manner, leveraging existing infrastructure to help deliver competitive barrels,” said Kevin McLachlan, vice president, Exploration, Chevron.

“Occidental is focused on strengthening our Gulf of America portfolio. We believe this discovery demonstrates the continued importance of the Gulf of America as a strategic source of reliable domestic oil supply that supports long-term energy security,” said Jeff Simmons, senior vice president, Subsurface Technology and Chief Petrotechnical Officer, Occidental.

“This result highlights the quality of the U.S. Gulf of America and the role it continues to play in delivering secure, reliable energy. Post-well studies are now underway, with co-owners jointly reviewing results. The Bandit-1 discovery also demonstrates the value of disciplined exploration in established basins with clear pathways to commercialization,” said Mark Abbotsford, Woodside executive vice president and chief commercial officer.

“In support of high grading our Gulf of America portfolio, Woodside was the successful bidder, subject to regulatory approval, on two blocks in the Big Beautiful Gulf (BBG) 2 Oil and Gas Lease Sale held in March 2026. This further builds on the eight leases awarded to Woodside under the BBG1 lease sale held late in 2025,” added Abbotsford.

Chevron’s exploration strategy is focused on disciplined investment across a resilient, balanced portfolio of infrastructure-enabled and frontier high-impact exploration opportunities. Chevron is the largest leaseholder and a leading producer in the Gulf of America, with a portfolio that includes operated and non-operated assets. Discoveries like Bandit build on Chevron’s deepwater expertise.

Chevron is one of the world’s leading integrated energy companies. They believe affordable, reliable, and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and the industry. They aim to grow their traditional oil and gas business, lower the carbon intensity of its operations, and grow new lower carbon businesses in renewable fuels, hydrogen, carbon capture, offsets, and other emerging technologies.

Occidental is an international energy company that produces, markets and transports oil and natural gas to maximize value and provide resources fundamental to life. The company leverages its global leadership in carbon management to advance lower-carbon technologies and products. Headquartered in Houston, Occidental primarily operates in the United States, the Middle East and North Africa.

Woodside is a global energy company providing reliable and affordable energy to help people lead better lives. The company is leveraging its track record of world-class project execution and operational excellence to build a diverse global portfolio. Woodside has over 35 years of experience in the LNG industry, including pioneering Australia’s LNG industry as operator of the North West Shelf Project which shipped its first LNG cargo to Japan in 1989. The company is executing major projects today, while pursuing growth opportunities that will deliver long-term value for shareholders.

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