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Occidental Reports Oil Discovery in Gulf of Mexico Bandit Prospect

Provided by Dow Jones Apr 9, 2026, 11:44:00 AM

By Colin Kellaher

Occidental Petroleum has made an oil discovery at the Bandit prospect in the Gulf of Mexico, about 125 miles south of the Louisiana coast.

Occidental, which operates Bandit and holds a roughly 45.4% working interest, on Thursday said the exploration well encountered high-quality, full-to-base oil-bearing Miocene sands.

Chevron owns about 37.1% of Bandit, with Woodside Energy owning 17.5%.

Houston-based Occidental said the Bandit owners are evaluating the well results to determine next steps, adding that the discovery has the potential for subsea tie-backs to an adjacent Occidental-operated facility and others in the nearby area.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

April 09, 2026 07:44 ET (11:44 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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