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bp discovers oil at Far South prospect, deepwater U.S. Gulf

Oil & Gas 360º

APRIL 14, 2025

The Far South co-owners are bp (operator, 57.5%) and Chevron U.S.A. Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs. bp expects to grow its global upstream production to 2.3 Vertical composition with copy space above. The well was drilled to a total depth of 23,830 feet.

Oil

Oil Exploration and Production Sidetracking Upstream

BP and Chevron Hit Oil in Deepwater Gulf of America

Rextag

APRIL 16, 2025

The discovery comes amid BP's broader pivot away from rapid renewables expansion toward reinforcing its upstream oil and gas portfolio to meet investor expectations and improve financial performance. The Discovery: Far South Prospect BP, as operator (57.5%) alongside co-owner Chevron U.S.A. BP is also targeting 2.32.5

Oil

Oil Upstream Exploration Well Exploration and Production

Energy Aggregated

bp discovers oil at Far South prospect, deepwater U.S. Gulf

BP and Chevron Hit Oil in Deepwater Gulf of America

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