Shell Announces Deep-Water Discovery in the U.S. Gulf of Mexico

Shell Offshore Inc. ("Shell"), a subsidiary of Royal Dutch Shell plc, today announced a significant discovery at the Leopard prospect in the deep-water U.S. Gulf of Mexico (GoM). The Leopard well encountered more than 600 feet (183 meters) net oil pay at multiple levels. Evaluation is ongoing to further define development options.

"Leopard expands our leading position in the Gulf of Mexico and is an exciting addition to our core portfolio, especially given its proximity to existing infrastructure and other discoveries in the Perdido Corridor," said Paul Goodfellow, Shell's Deepwater Executive Vice President. "With our US Gulf of Mexico production among the lowest GHG intensity in the world, Shell remains confident about the GoM and this latest discovery will help us deliver on our strategy to focus on valuable, high margin barrels as we sustain material Upstream cash flows into the 2030s."

Leopard is an opportunity to increase production in the Perdido Corridor, where Shell's Great White, Silvertip and Tobago fields are already producing. Meanwhile, the Whale discovery, also in the Perdido Corridor, is progressing toward a final investment decision in 2021.

Leopard is located in OCS block Alaminos Canyon (AC) 691, approximately 20 miles (32 kilometers) east of the Whale discovery, 20 miles (32 km) south of the recently appraised Blacktip discovery and 33 miles (53 km) from the Perdido host.