Shell: Suspending Drilling At Vito, Tobago Due To Moratorium
June 02 2010 - 6:21PM
Dow Jones News
Royal Dutch Shell PLC (RDSA, RDSB) is suspending exploratory
drilling operations at its Vito and Tobago prospects in the
deepwater of the Gulf of Mexico due to a six-month drilling ban
ordered by the federal government, the company said Wednesday.
"This suspension impacts a sidetrack well operation to our
recent Vito deep water discovery and impacts planned drilling at
our Tobago field, which is part of our recently announced Perdido
Development," Shell spokeswoman Kelly op de Weegh said in an
email.
Another planned well for Shell's Appomattox discovery,
previously scheduled to be drilled this summer, will now be
postponed, the company said.
"We are currently evaluating our offshore business plan for the
months ahead," op de Weegh said.
The Obama administration ordered last week a halt in ongoing
drilling exploration in the Gulf of Mexico's deep water and
extended to six months a drilling ban it had ordered after the
explosion and sinking of a Transocean Ltd. (RIG) platform that has
resulted in the largest oil spill in U.S. history. The rig was
leased by BP PLC (BP).
Shell, one of the largest oil and gas producers in the Gulf, has
four semisubmersible drilling rigs under contract in the Gulf of
Mexico. The company also operates four additional drilling rigs on
its production platforms--Auger, Ursa, Mars and Perdido.
Other large operators in the area, such as Chevron Corp. (CVX),
Exxon Mobil Corp. (XOM) and Marathon Corp. (MRO), have also stopped
exploratory drilling due to the moratorium.
-By Isabel Ordonez, Dow Jones Newswires; 713-547-9207;
isabel.ordonez@dowjones.com
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