Oil Discovery in the Deep-Water US Gulf of Mexico

Operator Shell Offshore Inc. today announced a significant discovery at the Blacktip prospect in the deepwater U.S. Gulf of Mexico. Equinor holds a 19.1% working interest in the block.

The Blacktip exploration well has encountered more than 400 feet (122 metres) net oil pay with good reservoir and fluid characteristics in the Alaminos Canyon Block 380, approximately 250 miles (400 kilometres) south of Houston.

“We are very pleased with this discovery which confirms the potential in the deepwater Gulf of Mexico and underpins Equinor’s strategy to exploit prolific basins and deepen in core areas,” says Bjørn Inge Braathen, senior vice president for exploration in North America.

Drilling is still ongoing to deepen the well and further assess the structure’s potential.

“We await further results from the well and look forward to continue the collaboration with the operator and co-venturers to assess the full potential of the discovery and evaluate options for development,” Braathen says.

Blacktip is operated by Shell (52.375%) and co-owned by Chevron U.S.A. Inc. (20%), Equinor Gulf of Mexico LLC (19.125%), and Repsol E&P USA Inc. (8.5%).

Equinor has been present in the US Gulf of Mexico since 2004 with exploration prospects and interests in eight producing fields in the US Gulf of Mexico and two in development. Equinor is the owner and operator of the Titan facility.

Equinor is planning to drill the Monument Paleogene prospect in the US Gulf of Mexico in 2019.

In addition to its offshore portfolio in the US Gulf of Mexico, Equinor has extensive US onshore operations in the Eagle Ford (Texas), the Bakken (North Dakota) and the Appalachian basin (Ohio and Pennsylvania).

Equinor has approximately 1,000 employees in the US with main offices in Houston (TX), Austin (TX) and Stamford (CT).

Source: Equinor
Date: Apr 24, 2019