Chevron Enjoys Drilling Success and 1 Dow Mover to Track

Chevron Corporation (NYSE:CVX) reports further drilling success by its Australian subsidiary in the Greater Gorgon Area which is located in the Carnarvon Basin, a premier hydrocarbon basin. The Satyr-4 exploration discovery well has confirmed about 220 feet of net gas pay in a 15,023-foot bore located in the WA-374-P1 permit area lying around 75 miles northwest of Barrow Island off the coast of Western Australian. Chevron Australia operates the WA-374-P with a 50 percent interest with Shell Development (NYSE:RDSA) and the Mobil Australia Resources Company (NYSE:XOM), each with 25 percent.

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General Electric Company (NYSE:GE): China’s cabinet has lowered its goal for nuclear energy capacity in the government’s Five Year Plan from 50 gigawatts to 40 by 2015, says The New York Times, adding that the nation intends to refrain from the construction of additional reactors at inland locations.

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