Post by Welligence Energy Analytics

Shell and Chevron just spud one of 2020's most awaited wells. The potential play-opening Chibu-1EXP well will target Oligocene/Jurassic objectives. It is located in Salina Sureste at 2,800 meters of water depth. Shell paid US$90MM in signature bonuses, offered the max royalty and committed to 2 wells to win the block in Mexico's Round 2.4. Last year, Chevron acquired 40% of the block.