Shell’s strategy of targeting cheaper shale opportunities is paying off, with the supermajor recently drilling Argentina’s cheapest-ever unconventional well, Chief Executive Ben van Beurden said at a conference in Houston on Thursday.
Van Beurden told delegates at CERAWeek by IHS Markit the well in the Vaca Muerta formation cost just over $5 million. The 5 km lateral well was recently drilled with remote assistance from Calgary, but van Beurden did not provide further details.
The Argentine well is a boost for the supermajor, which is seeking to...
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