Insight
US upstream week in brief: Shell makes a Whale of a discovery in Deepwater GoM
Report summary
Shell confirmed it made first discovery in Western GoM in two years at the Whale (AC 772) prospect. We estimate the quick cycle time, coupled with utilization of existing infrastructure, brings the breakeven oil price to around US$30/bbl Brent. This is Shell's seventh exploration well since the beginning of 2016, which is the most of any of its peers and second highest of any operator in GoM. Other stories this week include: Oklahoma emergency rules could boost non-shale horizontal drilling, Eni races the clock to drill in the US Arctic, LINN makes big plans for SCOOP/STACK Merge and North Dakota gas production continues to soar.
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This report includes 3 images and tables including:
- US oil and gas dashboard
- Horizontal rig count stats
- Deepwater GoM rigs
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