Shell Secures 30% Stake in BP-Operated Conifer Prospect
Shell Offshore Inc. has acquired a 30% interest in the Conifer exploration prospect, a deepwater project located in the US Gulf of America. Operated by BP, the site sits near the existing Kaskida host development, marking a strategic expansion for Shell in one of the company's most competitive basins.
The Conifer prospect is situated in the Keathley Canyon, approximately 250 miles southwest of New Orleans. BP currently holds a 100% working interest in the area and will maintain operational control throughout the development process. Shell expects the initial exploration well to spud in 2027.
Colette Hirstius, Shell's Executive Vice President for the Gulf of America and President of Shell USA, stated that the acquisition aligns with the company's goal to strengthen its position in the region. Shell remains the largest producing leaseholder in the Gulf, emphasizing that its operations there maintain some of the lowest greenhouse gas intensity levels among international oil and gas producers.
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