Shell expands Gulf of Mexico portfolio in Lease Sale 231
Mar 19, 2014
Shell continues to build upon a strong position in the Central Gulf of Mexico and is the apparent high bidder on 4 blocks during today’s US Bureau of Ocean Energy Management (BOEM) Lease Sale 231.
Shell bid on a total of 8 blocks and exposed approximately $100,000,000. Shell was the apparent high bidder on 4 blocks, totaling approximately $45,543,721, including a key block that will consolidate Shell's position in the greater Appomattox/Vicksburg area.
Shell continues exploration of the Norphlet play on the basis of its promising giant Appomattox and adjacent Vicksburg discoveries.
While the Gulf of Mexico has been explored for many years, there is still much to discover and we are pleased with today’s Lease Sale results,” said Mark Shuster, Shell Executive Vice President Exploration. “The Gulf of Mexico is a major production area in the US, accounting for almost 50% of our oil and gas production in the country. We look forward to building on our long, successful history there.