3rd Jul 2013 07:00
ROYAL DUTCH SHELL PLC - Gulf of Mexico Success at Shell's Vicksburg "A" WellROYAL DUTCH SHELL PLC - Gulf of Mexico Success at Shell's Vicksburg "A" Well
PR Newswire
London, July 3
Gulf of Mexico Success at Shell's Vicksburg "A" Well July 3, 2013 (Hague) - Shell today announces a successful exploratory well atVicksburg in the deepwater Gulf of Mexico. The well is located 75 miles (120kilometers) offshore in the De Soto Canyon Block 393 in 7,446 feet (2,269meters) of water. It was drilled to a total depth of 26,385 feet (8,042 meters)and encountered more than 500 feet (152 meters) of net oil pay. In total, the Vicksburg "A" discovery is estimated to hold potentiallyrecoverable resources of more than 100 million barrels of oil equivalent(mmboe). It adds to the more than 500 mmboe of potentially recoverableresources that have already been discovered and appraised at the nearbyAppomattox discovery. Vicksburg "A" is a separate accumulation from bothAppomattox and the 2007 Vicksburg "B" discovery. "The results of the Vicksburg well strengthen our existing deepwater Gulf ofMexico exploration portfolio and should contribute to the nearby Appomattoxdiscovery," said Mark Shuster, Executive Vice President Shell Upstream AmericasExploration. Shell (the operator with a 75% interest) and Nexen, a wholly-owned subsidiaryof CNOOC Limited, (25% interest), are following up the Vicksburg "A" well witha sidetrack well to test the Corinth prospect, a separate fault block from theVicksburg discovery. Further exploration drilling targeting tie-backs toAppomattox will follow. # # # Enquiries: Shell Media Relations: International +44 207 934 5550Americas +1 713 241 4544 Shell Investor Relations: International +31 70 377 4540North America +1 713 241 1042 Cautionary Note The companies in which Royal Dutch Shell plc directly and indirectly ownsinvestments are separate entities. In this announcement "Shell", "Shell group"and "Royal Dutch Shell" are sometimes used for convenience where references aremade to Royal Dutch Shell plc and its subsidiaries in general. Likewise, thewords "we", "us" and "our" are also used to refer to subsidiaries in general orto those who work for them. These expressions are also used where no usefulpurpose is served by identifying the particular company or companies.``Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in thisannouncement refer to companies over which Royal Dutch Shell plc eitherdirectly or indirectly has control. Companies over which Shell has jointcontrol are generally referred to "joint ventures" and companies over whichShell has significant influence but neither control nor joint control arereferred to as "associates". In this announcement, joint ventures andassociates may also be referred to as "equity-accounted investments". The term"Shell interest" is used for convenience to indicate the direct and/or indirect(for example, through our 23% shareholding in Woodside Petroleum Ltd.)ownership interest held by Shell in a venture, partnership or company, afterexclusion of all third-party interest. This announcement contains forward-looking statements concerning the financialcondition, results of operations and businesses of Royal Dutch Shell. Allstatements other than statements of historical fact are, or may be deemed tobe, forward-looking statements. Forward-looking statements are statements offuture expectations that are based on management's current expectations andassumptions and involve known and unknown risks and uncertainties that couldcause actual results, performance or events to differ materially from thoseexpressed or implied in these statements. Forward-looking statements include,among other things, statements concerning the potential exposure of Royal DutchShell to market risks and statements expressing management's expectations,beliefs, estimates, forecasts, projections and assumptions. Theseforward-looking statements are identified by their use of terms and phrasessuch as ``anticipate'', ``believe'', ``could'', ``estimate'', ``expect'',``goals'', ``intend'', ``may'', ``objectives'', ``outlook'', ``plan'',``probably'', ``project'', ``risks'', "schedule", ``seek'', ``should'',``target'', ``will'' and similar terms and phrases. There are a number offactors that could affect the future operations of Royal Dutch Shell and couldcause those results to differ materially from those expressed in theforward-looking statements included in this announcement, including (withoutlimitation): (a) price fluctuations in crude oil and natural gas; (b) changesin demand for Shell's products; (c) currency fluctuations; (d) drilling andproduction results; (e) reserves estimates; (f) loss of market share andindustry competition; (g) environmental and physical risks; (h) risksassociated with the identification of suitable potential acquisition propertiesand targets, and successful negotiation and completion of such transactions;(i) the risk of doing business in developing countries and countries subject tointernational sanctions; (j) legislative, fiscal and regulatory developmentsincluding regulatory measures addressing climate change; (k) economic andfinancial market conditions in various countries and regions; (l) politicalrisks, including the risks of expropriation and renegotiation of the terms ofcontracts with governmental entities, delays or advancements in the approval ofprojects and delays in the reimbursement for shared costs; and (m) changes intrading conditions. All forward-looking statements contained in thisannouncement are expressly qualified in their entirety by the cautionarystatements contained or referred to in this section. Readers should not placeundue reliance on forward-looking statements. Additional risk factors that mayaffect future results are contained in Royal Dutch Shell's 20-F for the yearended December 31, 2012 (available at www.shell.com/investor and www.sec.gov ).These risk factors also expressly qualify all forward looking statementscontained in this announcementand should be considered by the reader. Eachforward-looking statement speaks only as of the date of this announcement, 3July 2013. Neither Royal Dutch Shell plc nor any of its subsidiaries undertakeany obligation to publicly update or revise any forward-looking statement as aresult of new information, future events or other information. In light ofthese risks, results could differ materially from those stated, implied orinferred from the forward-looking statements contained in this announcement. We may have used certain terms, such as resources, in this announcement thatUnited States Securities and Exchange Commission (SEC) strictly prohibits usfrom including in our filings with the SEC. U.S. Investors are urged toconsider closely the disclosure in our Form 20-F, File No 1-32575, available onthe SEC website www.sec.gov. You can also obtain these forms from the SEC bycalling 1-800-SEC-0330.
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