Chevron Corp. (CVX) announced further drilling success by its Australian unit in the Exmouth Plateau area, situated in the Carnarvon Basin. The Elfin-1 exploration discovery well encountered nearly 132 feet of net gas pay in the upper Mungaroo sands. The energy company said this is its 21st discovery offshore western Australia since mid-2009.
Located in the WA-268-P permit area, the well is located about 106 miles northwest of Barrow Island and was drilled in 3,570 feet of water to a total depth of 11,909 feet.
Chevron Australia is the operator of WA-268-P with a 50 percent stake, while Shell Development Australia and Mobil Australia Resources each hold a 25 percent interest.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.