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Shell Looking to Lower Cost of Offshore Projects

“With oil prices hovering around $50 a barrel or less, and a rising amount of renewable energy chipping away at market share, Shell is going lean on its deepwater projects to make sure it can eke out a profit from all of its operations,” writes ChemInfo.

For example, Shell is attempting to maximize oil recovery “by drilling horizontal water-injection wells — a technique perfected by many fracking upstarts. This technique has come in handy at Mars, a massive drilling platform in the Gulf of Mexico that produced as much as 225,000 barrels a day in 2002. By drilling horizontally from the existing deep wells at Mars and into shallower layers of rock, Shell can use infrastructure that’s already in place to reap new rewards — sometimes producing oil for as little as $10 to $15 a barrel.” 

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