The Rising Influence of Rising Affluence

[DewDiligence]

Shell approves investment in Stones ultra-deepwater GoM project:

http://finance.yahoo.com/news/shell-moves-forward-gulf-mexico-133000001.html

The development will start with two subsea production wells tied back to the FPSO vessel, followed later by six additional production wells. This first phase of development is expected to have annual peak production of 50,000 boe/d from more than 250 million boe of recoverable resources. The Stones field has significant upside potential and is estimated to contain over 2 billion boe of oil in place.

…The Stones field is located in 9,500 feet (2,896 meters) of water [!], approximately 200 miles (320 kilometers) southwest of New Orleans, Louisiana, and was discovered in 2005.