Cardamom Deep News

Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016. EIA projects GOM production to reach 1.52 million barrels per day (bbl/d) in 2015 and 1.61 million bbl/d in 2016, or about 16% and 17% of total U.S. crude oil production in those two years, respectively. The forecasted production growth is driven both by new projects and the redevelopment and expansion of older producing fields.

Shell announced a significant new oil discovery in the deepwater eastern Gulf of Mexico, adding to discoveries in the area from 2009. The discovery is located at the Appomattox prospect in 2,200 metres (7,217 feet) of water in Mississippi Canyon blocks 391 and 392. Shell drilled the discovery well, located on Mississippi Canyon block 392, to a depth of 7,643 metres (25,077 feet) and encountered approximately 162 metres (530-feet) of oil pay. Shell then drilled an appraisal sidetrack to 7,910 metres (25,950-feet) and encountered approximately 116 metres (380-feet) of oil pay. Additional appraisal activities are planned for later in the year.