Shell oil well in Gulf sets undersea record. (Hat tip: Anaconda)
HOUSTON - Shell Oil Co. said Tuesday it has set a world water-depth record by drilling and completing an oil well in 9,356 feet of water in the Gulf of Mexico.
The well is part of Shell's Perdido Development project about 200 miles south of Houston. It easily topped the previous record of 6,950 feet - also set by Shell in the Gulf of Mexico. Anadarko Petroleum Corp. has completed natural-gas wells in about 9,000 feet of water in the Gulf.
Production at Perdido is scheduled to begin around 2010. Shell says the project, which dates to a lease sale in 1996, will be capable of producing 130,000 barrels of oil equivalent a day.
Deepwater drilling in the Gulf dates to 1979 when Shell began production, but development really didn't take off until the 1990s as technological advancements made it more feasible.
Shell didn't disclose Perdido's costs, but such ventures can cost billions of dollars.