Lurking Leopard found: Shell and Chevron unearth 'significant' deep-water US Gulf discovery

Shell has lifted the lid on what the Anglo-Dutch supermajor said is a “significant” discovery at its Leopard prospect in the ultra-deepwater US Gulf of Mexico.

The Leopard well, located around 394 kilometres (245 miles) south-southeast of Houston, Texas, hit more than 183 metres (600 feet) of net oil pay at multiple levels.

No early resource estimate was given, however.

Further evaluation of the discovery is under way to determine future development options, Shell — which is partnered at the well in the Perdido Corridor by US supermajor Chevron — said on Tuesday.

“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 deep-water executive vice president.

“Shell remains confident about the Gulf of Mexico 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.”

Shell is currently the largest deep-water leaseholder in the US Gulf of Mexico and one of the leading producers in the region.

The supermajor said the Leopard discovery is an opportunity to increase production in the already busy Perdido Corridor, where three Shell-operated fields — Great White, Silvertip and Tobago — are currently producing.

A fourth discovery — Whale — is "progressing toward a final investment decision" this year, Shell said on Tuesday.

Shell said the Leopard find is located in Alaminos Canyon block 691, just 32 kilometres (20 miles) east of the Whale discovery. It is also 32 kilometres south of the recently appraised Blacktip discovery and 53 kilometres (33 miles) from the Perdido host.

Shell operates Leopard on 50%, with Chevron on the remainder.