Royal Dutch Shell (RDS.A, RDS.B) announces one of its largest U.S. Gulf of Mexico exploration discoveries in the past decade from the Whale deepwater well.

Shell says the well encountered more than 1,400 ft. of oil bearing pay and appraisal drilling is underway to further delineate the discovery and define development options.

The area is ~10 miles form Shell’s massive Perdido platform, so the company hopes it can develop the area and reduce costs while using by connecting it to existing platform and pipelines.

Whale is operated by Shell with a 60% ownership interest and co-owned by Chevron (CVX +0.1%) with a 40% stake.

Please Like And Share Our Content!