Shell confirms deepwater find in GOM

Shell said development of its Kaikias deepwater discovery in the GOM could exceed 100 million boe recoverable, following a full evaluation of the well results.

Shell's Olympus platform in the GOM. Courtesy of Shell

 

Kaikias, approximately 60 miles offshore, south of the Louisiana coast, is a high-value opportunity in the deepwater Gulf of Mexico (GOM). Kaikias builds upon Shell’s exploration and development leadership position in the Mars-Ursa basin.

Shell said development of its Kaikias deepwater discovery in the GOM could exceed 100 million boe recoverable, following a full evaluation of the well results.

Kaikias is the longest well ever drilled by Shell, and measured at a depth of 34,500 ft. The appraisal and drilling was completed ahead of schedule and under budget, allowing the company to achieve more than 20% in cost savings.

The Kaikias is not one of the company’s biggest finds but its location near field infrastructure presents opportunities for cost efficiencies – potentially reducing the overall development cost. Managing costs and ensuring project competitiveness continues to be a focus for Shell, a company like so many others that have had to cut costs amidst the $40 oil environment.

Shell discovered Kaikias in August 2014, and appraisal drilling revealed more than 300 feet of net oil pay in August 2015.

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