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Shell to raise investment plan for Mexican ultra-deepwater field to $345M

Shell to raise investment plan for Mexican ultra-deepwater field to $345M

Aug. 28, 2020 5:43 PM ET|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

Mexico’s National Hydrocarbons Commission approves Royal Dutch Shell’s (RDS.ARDS.B) request to carry out all permitted activities in its exploration plan for the ultra-deepwater Xochicalco oilfield in the Gulf of Mexico.

Shell will drill a well at depths of five miles trying to reach a Wilcox formation, with prospective reserves of as much as 562M boe, boosting its investment in the play to $345.8M from $104M in the original exploration plan, which was first approved in June 2019. read more

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