Chevron U.S.A. Production and its joint-venture partners – ShellDeepwater Development, EEX Corp. and Enterprise Oil Gulf of Mexico- set a new water-depth world record of 7,718 feet as they begandrilling their initial exploratory test well in the Gulf ofMexico’s Atwater Valley Block 118, about 175 miles southeast of NewOrleans. The Chevron-led team anticipates the well, designatedAtwater Valley 118 #1, will reach target depth of 15,471 feet belowthe seabed in the fourth quarter of this year. The companies areusing the fabled Glomar Explorer drill ship – initially built forU.S. intelligence work – owned by Global Marine to drill the well.Chevron and Texaco plan to alternate into the operator position asthey go forward with plans to drill 20 deepwater wells in the Gulfof Mexico.
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The $6.2 billion merger of Enova Corp. and Pacific Enterprisesfinally became official last week following approval of theSecurities and Exchange Commission. The merger creates SempraEnergy, a new San Diego-based Fortune 500 energy services holdingcompany with 12,000 employees, $10 billion in assets and thelargest regulated utility customer base in the nation.