Occidental announces oil discovery in Gulf of Mexico

ReutersApr 9, 2026 11:16 AM

April 9 (Reuters) - U.S.-based shale producer Occidental Petroleum OXY.N has discovered oil at the Bandit prospect in the Gulf of Mexico, about 125 miles south of the Louisiana coast, it said on Thursday.

Bandit is operated by Occidental, which holds 45.38% working interest. It co-owns the prospect with Chevron CVX.N, which holds 37.13%, and Australia-based Woodside Energy WDS.AX, which holds 17.5%.

The Gulf of Mexico, which U.S. President Trump renamed the Gulf of America under an executive order, is home to about 15% of U.S. crude oil production.

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