Shell’s plans to juice output from its deepwater Perdido development in the U.S. Gulf of Mexico just ran into a delay-shaped pothole. Two new wells intended to lift production from the Great White unit—one of the stars of the Perdido complex—won’t come online until the end of the year, the company confirmed this week. That’s a shift from the original timeline, which had all three wells humming by April.
Shell Plc is working with advisers to evaluate a potential acquisition of BP Plc, though it’s waiting for further stock and oil price declines before deciding whether to pursue a bid, according to people familiar with the matter.
The oil major has been more seriously discussing the feasibility and merits of a BP takeover with its advisers in recent weeks, the people said, asking not be identified because the information is private.
Shell has increased its working interest in the Ursa platform in the Gulf of Mexico from 45.3884% to 61.3484%, the company said on Thursday.
Shell Offshore and Shell Pipeline Company completed the acquisition of additional interests in the Ursa platform and associated assets, previously held by ConocoPhillips.
Shell PLC has put onstream a second tieback to the Appomattox production hub in the Gulf of America.
Dover, discovered 2018 in the deepwater Norphlet play, contributes 20,000 barrels of oil equivalent a day (boed) at peak, according to a statement Tuesday on the British energy giant’s United States website. Shell owns 100 percent of Dover through Shell Offshore Inc.
Shell Offshore Inc. (Shell), a subsidiary of Shell plc, today announced the start of production at Dover, the second subsea tieback connecting new wells to the existing infrastructure of the Shell-operated Appomattox production hub in the Gulf of America/Gulf of Mexico. Dover brings an estimated peak production of 20,000 barrels of oil equivalent per day (boed).
Shell Plc sees lower natural gas production and LNG volumes in the first quarter of 2025 than previously expected, citing unplanned maintenance in Australia and adverse weather.
In a trading update published on Monday, London-based Shell said it expects integrated gas production of 910,000 to 950,000 barrels of oil equivalent. Though that was an improvement on the fourth quarter of last year, it was lower than the range flagged in the last quarterly report.
The project involves the transportation and installation of a floating production system (FPS) at Garden Banks block 959, which is located off the southeastern coast of Louisiana at water depths of up to 1,635 meters.
McDermott has been selected by Shell Global Solutions International for an enterprise framework agreement (EFA) for engineering, procurement and integrated project management team services, the company said on Wednesday.
The EFA has a duration of three years with two one-year optional extensions. The agreement covers McDermott’s full range of services across its low-carbon solutions, offshore Middle East and subsea and floating facilities business lines.
Last year, British multinational oil & gas giant, Shell Plc (NYSE:SHEL) threatened to delist from the London Stock Exchange (LSE) and list on the New York Stock Exchange (NYSE). Shell CEO Wael Sawan told Bloomberg that the company is grossly undervalued in London due to shareholder apathy to the oil and gas sector. Sawan also expressed deep frustration by investors’ under-appreciation of the financial performance of the company, as well as the British government’s over-taxation of its profits. Sawan vowed to “look at all options”, including switching the group’s listing to New York in a bid to close the valuation gap with American Big Oil companies Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX). A U.S. listing might make even more sense now that Trump is in office thanks to his pro-fossil fuel policies.
Shell PLC and its partners have agreed on a final investment decision to proceed with the Gato do Mato deepwater development in the pre-salt area of Brazil’s Santos Basin.
The project will produce up to 120,000 barrels of oil per day (bopd) through a floating production, storage and offloading (FPSO) vessel, the British energy giant said in an online statement. Shell estimates recoverable resources to be 370 million barrels.