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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Shell Plc | LSE:SHEL | London | Ordinary Share | GB00BP6MXD84 | ORD EUR0.07 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6.00 | 0.21% | 2,907.00 | 2,907.00 | 2,907.50 | 2,912.00 | 2,897.00 | 2,901.50 | 1,223,425 | 10:49:38 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Crude Petroleum & Natural Gs | 316.62B | 19.36B | 2.9802 | 9.75 | 188.67B |
From Apr 2019 to Apr 2024
By Sarah Kent
LONDON--Royal Dutch Shell PLC (RDSB.LN) is pressing ahead with plans to develop its Appomattox deepwater project in the Gulf of Mexico, despite the steep drop in oil prices over the last year that has discouraged many companies from moving forward with ambitious and expensive ventures.
The Anglo-Dutch oil giant said it had reduced the cost of the project by 20% through design improvements, supply-chain savings and reducing the number of wells required for development. It estimates the break-even price for the Appomattox development at $55 a barrel.
"We have again delivered a globally competitive investment scope for another significant deepwater project," said Marvin Odum, Shell upstream Americas director.
The company is targeting peak production equivalent to 175,000 barrels of oil a day, and expects the project to start up around the end of the decade. The volumes build on Shell's current production in the Gulf of Mexico, which averaged 225,000 barrels of oil equivalent a day last year.
Write to Sarah Kent at sarah.kent@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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