Shell makes large heartland discovery in Gulf of Mexico
Shell Offshore Inc. has made a large deepwater exploration discovery in the Norphlet geologic play in the U.S. Gulf of Mexico with its Dover well (100-percent Shell).
The Dover discovery is Shell's sixth in the Norphlet and encountered more than 800 net feet of pay (244 meters). The discovery is located approximately 13 miles from the Appomattox host and is considered an attractive potential tieback. Shell's Appomattox host has now arrived on location in the U.S. Gulf of Mexico and is expected to start production before the end of 2019.
"Dover showcases our expertise in discovering new commercial resources in a heartland helping deliver our deepwater growth priority," said Andy Brown, upstream director for Royal Dutch Shell. "By focusing on near-field exploration opportunities in the Norphlet, we are adding to our resource base in a prolific basin that will be anchored by the Appomattox development."
For more information, visit www. shell.com or call (832) 337-4355.
Permian Basin oil production to more than double in 2017-2023
Oil production in the Permian Basin, already a major force in global supply growth, will rise nearly 3 million barrels per day (mbd) by 2023 -- a level of growth exceeding most recent estimates, according to a new outlook by IHS Markit. What the report describes as a "stunning" level of growth will comprise more than 60 percent of net global production growth during that timeframe.
Total oil production in the Permian will be 5.4 mbd in 2023, more than the total production of any OPEC country other than Saudi Arabia. Nearly 41,000 new wells and $308 billion in upstream spending between 2018-2023 will drive that growth.
Production of both natural gas and natural gas liquids in the Permian are also expected to double during this period, reaching 15 bcf/d and 1.7 mbd, respectively.
For more information, visit www. ihsmarkit.com or call (202) 463-8213.
API launches coalition to expand U.S. offshore activity
API has formed "Explore Offshore," a new coalition of more than 100 community organizations, associations, businesses and local leaders in Virginia, North Carolina, South Carolina, Georgia and Florida who support increased access to offshore U.S. oil and natural gas resources. The Virginia effort will be led by Winsome Sears, former Virginia delegate from the 90th district, and Mike Watson, former Virginia delegate from the 93rd district. Jim Nicholson, who served as secretary of veterans' affairs during the George W. Bush administration, and former Virginia Sen. Jim Webb will serve as bipartisan national co-chairs of the coalition.
Explore Offshore is a bipartisan coalition dedicated to safe and environmentally responsible access to offshore energy resources to help supply affordable energy for American consumers, small businesses and manufacturers. This broad coalition of community organizations, businesses and local associations across the Southeast has come together to voice support for reliable, safe and affordable energy.
For more information, visit www. api.org or call (202) 682-8000.
Shell brings deepwater Kaikias project on line in Gulf of Mexico
Shell Offshore Inc. unveiled the early start of production -- around one year ahead of schedule -- at the first phase of Kaikias, an economically resilient subsea development in the Gulf of Mexico with estimated peak production of 40,000 barrels of oil equivalent per day.
Shell has reduced costs by around 30 percent at this deepwater project since taking the investment decision in early 2017, lowering the forward-looking, break-even price to less than $30 per barrel of oil.
Kaikias is located in the prolific Mars- Ursa basin around 130 miles (210 kilometers) from the Louisiana coast and is owned by Shell (80-percent working interest) as operator and MOEX North America LLC (20-percent working interest), a wholly owned subsidiary of Mitsui Oil Exploration Co. Ltd.
For more information, visit www. shell.com or call (832) 337-4355.