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Shell finds oil at Gulf of Mexico drill

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LONDON, July 3 | Wed Jul 3, 2013 2:15am EDT

(Reuters) – Royal Dutch Shell said it had found oil at its latest deepwater drill in the Gulf of Mexico.

The Vicksburg ‘A’ discovery, 120 km offshore, was estimated to hold potentially recoverable resources of more than 100 million barrels of oil equivalent, Shell said on Wednesday.

“The results of the Vicksburg well strengthen our existing deepwater Gulf of Mexico exploration portfolio and should contribute to the nearby Appomattox discovery,” said Mark Shuster, Executive Vice President of Shell Upstream Americas Exploration.

Shell has a 75 percent stake in the discovery, and CNOOC holds the rest.

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