Shell confirms another major Gulf of Mexico discovery

|By:, SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) announces a third major discovery in the Norphlet play in the deepwater Gulf of Mexico with its successful Rydberg exploration well.

Shell is completing the full evaluation of the well results but expects the resource base to contain ~100M boe; combined with the nearby Appomattox and Vicksburg discoveries, the new discovery brings total potential Norphlet discoveries to 700M-plus boe.

The discovery is the first for the partnership of operator Shell, with a 57.2% stake, Ecopetrol (NYSE:EC) and Nexen (NYSE:CEO).