Shell (SHEL) Makes New Oil Discovery in Gulf of America

Core Insights - Shell plc (NYSE:SHEL) is recognized as one of the best crude oil stocks for dividends and is also included in the list of best non-US stocks favored by hedge funds [1][5] Group 1: Oil Discovery - Shell, in partnership with INEOS, has made a new oil discovery in the Gulf of America, confirming hydrocarbons at the Nashville exploration well in the Norphlet region [3] - Shell operates the Nashville well with a 79% working interest, while INEOS holds the remaining 21% [3] Group 2: New Contract and Project - Shell has selected the Valaris drillship, VALARIS DS-8, for operations off the coast of Brazil, with a multi-year contract valued at approximately $300 million [4] - The drillship will be deployed at Shell's Orca project, which is designed to produce up to 120,000 barrels of oil per day, with production start-up scheduled for 2029 [4] - The contract with Valaris is set to commence in the first quarter of 2027 and has an estimated duration of approximately 800 days, with an option to extend by about one year [4]