Anglo-Dutch oil firm Shell has announced that the company is the high bidder on four blocks during the US Bureau of Ocean Energy Management (BOEM) lease sale 231.
The company gave a vote of confidence to its properties located in the Jurassic-Norphlet trend in the deep-water US Gulf of Mexico and devoted nearly half of its leasing budget to a single block in the play.
The company, which bid on a total of eight blocks and exposed about $100,000,000, noted it was the high bidder on the blocks totalling about $45,543,721, including a key block that will consolidate its position in the greater Appomattox/Vicksburg area.
On the basis of its promising giant Appomattox and adjacent Vicksburg discoveries, the company continues exploration of the Norphlet play.
Shell exploration executive vice-president Mark Shuster said: "While the Gulf of Mexico has been explored for many years, there is still much to discover and we are pleased with today’s lease sale results.
"The Gulf of Mexico is a major production area in the US, accounting for almost 50% of our oil and gas production in the country. We look forward to building on our long, successful history there."
Lease sale 231 for the central planning area is said to have attracted $850,809,921 in high bids on 326 blocks covering 1.7 million acres on the US Outer Continental Shelf (OCS) offshore Louisiana, Mississippi and Alabama.
Image: Shell bid on a total of eight offshore blocks and exposed approximately $100,000,000. Photo: courtesy of Shell.