Shell is one of the leading operator in the Gulf of Mexico. Credit: pierreguycote from Pixabay.

The Royal Dutch Shell subsidiary Shell Offshore has announced another deep-water discovery in the Gulf of Mexico.

The company has found oil at the Blacktip North prospect, located in the OCS block Alaminos Canyon (AC) 336.

The well encountered approximately 300ft of net oil pay at multiple levels. The well was drilled to a total depth of 27,770ft.

Further assessment is currently underway to devise development options.

Shell Deep Water executive vice-president Paul Goodfellow said: “The Blacktip North prospect is the latest example of discovering new resources in our advantaged corridors.

“Our strategic positions, like the Perdido Corridor, are at the heart of value creation in the Gulf of Mexico, and they represent an opportunity to use our existing infrastructure to unlock the full-value potential of our discoveries.”

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Shell Offshore operates the Blacktip North prospect with a 89.49% interest. The other stakeholder is Repsol E&P USA with a stake of 10.51%.

According to the company, the Blacktip, Blacktip North and Leopard discoveries will help to increase production in the Perdido Corridor.

In the corridor, Shell’s Great White, Silvertip, and Tobago fields have commenced production. The company has also made the final investment decision for the Whale deep-water development in the Perdido Corridor this year.

Shell is one of the largest deep-water lease holders in the Gulf of Mexico and a leading operator. It has eight DW production hubs in the region.

In the third quarter of 2021, Shell reported a net loss of $447m. The loss was attributed to $5.2bn in non-cash charges related to commodity derivatives.