Shell Announces Deep-Water Discovery in Gulf of Mexico
April 24 2019 - 9:57AM
Dow Jones News
By Oliver Griffin
Royal Dutch Shell PLC (RDSB.LN) said Wednesday that it has made
a significant discovery at the Blacktip prospect in the deep water
U.S. Gulf of Mexico.
The British-Dutch oil giant said the find presents an
opportunity to augment existing production in the Perdido-platform
area, where Shell's Great White, Silvertip and Tobago fields are
already producing.
Drilling at the initial Blacktip well is still underway, Shell
said. To date, drilling has encountered more than 400 feet of net
oil pay with good reservoir and fluid characteristics.
Blacktip is operated by Shell, which has a 52.4% stake in the
prospect. Subsidiaries of Chevron Corp. (CVX), Equinor ASA
(EQNR.OS) and Repsol SA (REP.MC) own 20%, 19.1% and 8.5% stakes
respectively in the prospect.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
April 24, 2019 09:42 ET (13:42 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Shell 'A' (NYSE:RDSA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Shell 'A' (NYSE:RDSA)
Historical Stock Chart
From Jul 2023 to Jul 2024