Just when an exploration at a well in Carnarvon Basin completed successfully, energy giant Chevron announced its one of the biggest gas discoveries in Australia. The Acme-1 exploration well of this US energy Company is situated 150 kilometers offshore from Onslow in Western Australia.

This newly discovered well has bumped into almost 273 meters of net gas pay, which makes it the Company’s most significant natural gas discoveries in the country, said Chevron Vice-Chairman George Kirkland.

Mr. Kirkland added, “As our ninth and largest offshore discovery in Western Australia in the last 12 months, it underscores the quality of our drilling program and our commitment to technical excellence and safe operations”.

This is a great achievement for Chevron, said Peter Kopetz, Energy Analyst with State One Stock broking, who further added that this discovery might contain more than 10 trillion cubic feet (tcf) of gas in place.

In addition to this, Woodside Petroleum has also announced its new discovery in the Carnarvon Basin today. This is its second discovery and its Larsen Deep-1 hits almost 50 meters of gross gas over numerous sectors.

Just when Woodside announced that its second well is hitting 185 meters of gross gas in the Greater Carnarvon Basin, its shares went up in the market.