Shell adds another deep-water discovery in the Perdido Corridor of the U.S. Gulf of Mexico

Shell Offshore Inc. (“Shell”), a subsidiary of Royal Dutch Shell plc, announced a material discovery at the Blacktip North prospect in the U.S. Gulf of Mexico. The Blacktip North well encountered approximately 300 feet net oil pay at multiple levels. Evaluation is ongoing to further define development options.

“The Blacktip North prospect is the latest example of discovering new resources in our advantaged corridors,” said Paul Goodfellow, Executive Vice President of Deep Water. “Our strategic positions, like the Perdido Corridor, are at the heart of value creation in the Gulf of Mexico, and they represent an opportunity to use our existing infrastructure to unlock the full-value potential of our discoveries.”

Blacktip, Blacktip North, and our Leopard discoveries are all opportunities to increase production in the Perdido Corridor, where Shell’s Great White, Silvertip and Tobago fields are already producing. Earlier this year, Shell announced a final investment decision for the Whale deep-water development, also located in the Perdido Corridor. Whale is part of our Gulf of Mexico portfolio, where our production is among the lowest greenhouse gas (GHG) intensity in the world for producing oil. 

Blacktip North is located in OCS block Alaminos Canyon (AC) 336, approximately 4.5 miles northeast of the recently appraised Blacktip discovery, 25 miles northeast of the recently announced Leopard discovery, 30 miles northeast of the planned Whale host, and 42 miles from the Perdido host. 

Shell’s Powering Progress strategy to thrive through the energy transition includes increasing investment in lower-carbon energy solutions, while continuing to pursue the most energy-efficient and highest-return Upstream investments. We will support this strategy through Exploration by sustaining a strong pipeline of high-value, nearfield and core discoveries, complemented by highly selective frontier plays.

Notes to editors

• The Blacktip North Discovery is ~220 miles SSE of Houston.
• The Blacktip North well was drilled to a total measured depth of 27,770 feet.
• Blacktip North is operated by Shell Offshore Inc (89.49%) and co-owned by Repsol E&P USA LLC (10.51%).
• Shell began production in the Perdido Corridor at the Perdido Spar in 2010.
• Shell is a leading operator in US Gulf of Mexico, with eight DW production hubs and a network of subsea infrastructure.
• Shell is the largest deep-water lease holder in the US Gulf of Mexico with access to some of the most prolific acreage in the basin.
• The reference to our U.S. Gulf of Mexico production being among the lowest GHG intensity in the world is a comparison among other IOGP oil and gas producing members.

Cautionary note
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this press release “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ”Subsidiaries”, “Shell subsidiaries” and “Shell companies” as used in this press release refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively.  Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

We may have used certain terms, such as resources, in this press release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC.  Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.