Shell said it confirmed what it considers a high-value and significant discovery of oil in the deep U.S. waters of the Gulf of Mexico. “Kaikias is a high-value opportunity in the deep-water Gulf of Mexico, development potential could exceed 100 million barrels of oil equivalent recoverable,” the company declared. U.S. and international reports indicate inland shale oil basins will decline in part because of financial pressure from lower crude oil prices. In its latest monthly market report, the Organization of Petroleum Exporting Countries said production declines from the Lower 48 may be offset by “strong growth” from the Gulf of Mexico, where year-on-year production increased 14.5 percent . Shell said the Kaikias prospect is near its existing infrastructure in […]