Shell’s Vicksburg exploration well strikes oil in GoM

Shell’s (NYSE: RDS.A) (NYSE: RDS.B) exploration well at Vicksburg in deepwater Gulf of Mexico encountered more than 500 ft (152 m) of net oil pay.

Offshore staff

HAGUE, the Netherlands – Shell’s (NYSE: RDS.A) (NYSE: RDS.B) exploration well at Vicksburg in deepwater Gulf of Mexico encountered more than 500 ft (152 m) of net oil pay.

The well is in De Soto Canyon block 393 in 7,446 ft (2,269 m) of water and was drilled to TD of 26,385 ft (8,042 m).

The Vicksburg “A” discovery is estimated to hold potentially recoverable resources of more than 100 MMboe. It adds to the more than 500 MMboe of potentially recoverable resources that have already been discovered and appraised at the nearbyAppomattox discovery. Vicksburg “A” is a separate accumulation from both Appomattox and the 2007 Vicksburg “B” discovery.

A side track well will test the Corinth prospect in a separate fault block from the Vicksburg. Further exploration drilling targeting tie-backs to Appomattox are to follow.

Shell is operator with 75% interest and Nexen (CNOOC) holds 25%.

7/3/13

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