BP Strikes Oil in Gulf with 23830 Foot Well Just 120 Miles off Louisiana

BP has made a significant oil discovery in the deepwater Gulf of Mexico, drilling a well in Block 584 of the Green Canyon region. Located approximately 120 miles south of the Louisiana coast and at a water depth of 4,092 feet, the well reached a total depth of 23,830 feet. The project, named FarSouth, is jointly owned by BP (57.5%) and Chevron U.S.A. (42.5%), with BP serving as the operator.

Both the initial drilling and a subsequent sidetrack encountered high-quality Miocene-age reservoirs, revealing commercially viable hydrocarbons, according to preliminary data. This marks another boost for BP’s upstream portfolio and highlights the Gulf’s long-term production potential.

This breakthrough aligns with BP’s strategic reset announced in February 2025, in which the company committed to ramping up exploration efforts. Andy Krieger, BP’s Senior VP for the Gulf of Mexico and Canada, emphasized the significance of this find: “FarSouth underscores the Gulf’s importance to BP’s future. We see it as a core growth region with untapped value.”

BP has set its sights on increasing daily production in the Gulf to over 400,000 barrels of oil equivalent by the end of the decade. With this latest success, the company is well-positioned to meet that ambitious target and maintain momentum in its upstream revival.