Shell CEO sunny on shale, warns of gathering storm

Shell has had a good month, in which it drilled Argentina’s cheapest-ever unconventional well. But the supermajor’s CEO had his mind on other matters on Thursday Shell has had a good month, in which it drilled Argentina’s cheapest-ever unconventional well. But the supermajor’s CEO had his mind on other matters on Thursday.
By Chris Noon 10 March 2017 0 24883
Shell CEO Ben van Beurden at CERAWeek 2017 by IHS Markit (IHS Markit)

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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