Shell (RDS.A) Hits Oil in Gulf of Mexico’s Blacktip North Prospect

Shell (RDS.A) Hits Oil in Gulf of Mexico's Blacktip North Prospect
This story originally appeared on Zacks

A subsidiary of Royal Dutch Shell (RDS.A) recently made a major oil discovery at the Blacktip North prospect in the Alaminos Canyon block 336 in the deep-water U.S. Gulf of Mexico (GoM). At multiple stages, the Blacktip North Well encountered more than 300 feet (91 metres) of net oil pay and an assessment is underway to further determine development options.

Shell (RDS.A) Hits Oil in Gulf of Mexico's Blacktip North Prospect – Zacks

Blacktip North is run by Shell (89.49%) and co-owned by Repsol (10.51%). It is located about 30 miles northeast of the Whale discovery, 4.5 miles northeast of the recently reviewed Blacktip discovery and 42 miles from the Perdido host. The discovery well was drilled at a water-depth of 8,443 meters by Transocean’s ultra-deepwater drillship Deepwater Poseidon.

Shell’s Deepwater executive vice president Paul Goodfellow believes that the Blacktip North potential is the most recent example of fresh resources…

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