Dec 23rd, 2019
by John Donovan.


By Nick Cunningham – Dec 22, 2019, 6:00 PM CST
On Friday, Royal Dutch Shell announced that it would take a $1.7-$2.3 billion write down for the fourth quarter, another financial blow to an industry dealing with oversupply and low prices.
The write down is the result of the bad “macro outlook,” Shell said in a press release, which refers to the slowdown in the global economy, weak demand growth and relatively low prices for gas, oil and for refining margins. “Additional well write-offs in the range of $100-200 million are expected compared to the fourth quarter 2018. No cash impact is expected,” Shell said in a statement. The company’s share price in London fell 1 percent on the news. read more
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Dec 23rd, 2019
by John Donovan.

Shell Makes Significant Find Offshore Australia

by Andreas Exarheas:
Rigzone Staff: Monday, December 23, 2019
Shell Australia has announced a “significant” gas and condensate discovery in the Browse Basin off the North West Coast of Western Australia.
The find was made through the Bratwurst-1 exploration well, which was said to be successfully concluded after a 78-day campaign. The discovery is located 99 miles north east of the Shell operated Prelude FLNG facility and presents an opportunity for a future tie-back to Prelude, according to Shell.
No figures were released in connection with the discovery, but it was said to support Shell’s growth plans for “more and cleaner energy, with LNG being the predominant focus for Shell in Australia”. read more
shellplc.website and its sister non-profit websites
royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and
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John Donovan. There is also a
Wikipedia feature.