Shell said development of its Kaikias deepwater discovery in the Gulf of Mexico (GoM) could exceed 100 million barrels of oil equivalent recoverable, following a full evaluation of the well results.
Drilling and appraisal of Kaikias, the longest well ever drilled by Shell at a measured depth of 34,500 ft, were completed ahead of schedule and under budget allowing the company to achieve more than 20% in cost savings, Shell said in a news release.
Shell discovered Kaikias in August 2014, and appraisal drilling revealed more than 300 feet of net oil pay in August 2015, the company said in a news release. Shell called Kaikias a high-value opportunity in the deepwater Gulf of Mexico located near existing Shell infrastructure. The discovery is located in the Mars-Ursa Basin.
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