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Shell starts production at Whale in the US Gulf of Mexico

Business

Shell starts production at Whale in the US Gulf of Mexico
Business

Business

Shell starts production at Whale in the US Gulf of Mexico

2025-01-10 00:00 Last Updated At:00:15

HOUSTON, Jan. 10, 2025 /PRNewswire/ -- Shell Offshore Inc. (Shell), a subsidiary of Shell plc, announced that production has started at the Shell-operated Whale floating production facility in the Gulf of Mexico. Whale replicates the simplified, cost-efficient host design of the Vito platform, which began production in early 2023. The Whale development is owned by Shell Offshore Inc. (60%, operator) and Chevron U.S.A. Inc. (40%).

"Whale demonstrates our focus on driving more value with less emissions from our Upstream business as we deliver the energy people need today," said Zoë Yujnovich, Shell's Integrated Gas and Upstream Director. "It will make a significant contribution to our commitment to bring projects online, with a total peak production of more than 500,000 barrels of oil equivalent per day from 2023 through 2025."

With an estimated peak production of 100,000 barrels of oil equivalent per day (boe/d), Whale currently has an estimated recoverable resource volume of 480 million boe. Whale replicates 99% of the hull design and 80% of the topsides from Vito. It also features energy-efficient gas turbines and compression systems, operating with around 30% lower greenhouse gas (GHG) intensity over its life cycle than Vito. This deep-water development enhances our leading Gulf of Mexico portfolio, where our oil production has among the lowest GHG intensity in the world.

Notes to editors

Cautionary Note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this media release, "Shell", "Shell Group" and "Group" are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this media release refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as "joint ventures" and "joint operations", respectively. "Joint ventures" and "joint operations" are collectively referred to as "joint arrangements".  Entities over which Shell has significant influence but neither control nor joint control are referred to as "associates". The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

Forward-Looking Statements

This media release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as "aim", "ambition", ''anticipate'', ''believe'', "commit", "commitment", ''could'', ''estimate'', ''expect'', ''goals'', ''intend'', ''may'', "milestones", ''objectives'', ''outlook'', ''plan'', ''probably'', ''project'', ''risks'', "schedule", ''seek'', ''should'', ''target'', ''will'', "would" and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this media release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak, regional conflicts, such as the Russia-Ukraine war, and a significant cyber security breach; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this media release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc's Form 20-F for the year ended December 31, 2023 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this media release and should be considered by the reader.  Each forward-looking statement speaks only as of the date of this media release, 9 January 2025. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this media release.

Shell's net carbon intensity

Also, in this media release we may refer to Shell's "Net Carbon Intensity" (NCI), which includes Shell's carbon emissions from the production of our energy products, our suppliers' carbon emissions in supplying energy for that production and our customers' carbon emissions associated with their use of the energy products we sell. Shell's NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell's "Net Carbon Intensity" or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell's net-zero emissions target

Shell's operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year.  They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Intensity (NCI) targets over the next ten years.  However, Shell's operating plans cannot reflect our 2050 net-zero emissions target as this target is currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell's operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

Forward Looking non-GAAP measures

This media release may contain certain forward-looking non-GAAP measures such as EBITDA and divestments. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc's consolidated financial statements.

The contents of websites referred to in this media release do not form part of this media release.

We may have used certain terms, such as resources, in this media release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC.  Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Shell starts production at Whale in the US Gulf of Mexico

Shell starts production at Whale in the US Gulf of Mexico

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MAXHUB Wins CES 2025 Microsoft AI Innovation Award

2025-01-09 23:38 Last Updated At:23:55

Showcasing Latest Certified Microsoft Teams Rooms Solutions and AI-Powered Innovation

LAKE FOREST, Calif., Jan. 9, 2025 /PRNewswire/ -- MAXHUB, a global leader in integrated commercial display and unified communications solutions, is proud to announce its recognition at CES 2025 with the prestigious Microsoft AI Innovation Award. This honor underscores MAXHUB's strategic collaboration with Microsoft and its pioneering contributions to modern workspaces through its Microsoft Teams Rooms (MTR) solutions and cutting-edge AI-driven innovations.

"Our commitment to innovation and enhancing collaboration experiences through advanced technology is unwavering," said Darren Lin, Vice General Manager of MAXHUB Global Business. "Winning this award, alongside the recent Red Dot Award for the XCore Kit Pro, highlights MAXHUB's dedication to delivering high-quality, accessible solutions that inspire connection and creativity across all workspaces."

MAXHUB XT Series for Microsoft Teams Rooms

Designed to transform meeting spaces, the MAXHUB XT Series offers tailored solutions for BYOD (Bring Your Own Device) meeting rooms. The comprehensive portfolio includes a wide range of products such as console kits, UC peripherals, and multi-size displays, offering flexible options for focus spaces, small rooms, medium and large meeting rooms, and even signature room setups. With over 5 bundled solutions and more in development, MAXHUB ensures seamless support for diverse room sizes and configurations.

Key features of MAXHUB's Teams Rooms solutions include:

MAXHUB XT20-PS Kit: Latest Certified Teams Rooms Solution for Medium and Large Meeting Rooms

At CES 2025, MAXHUB showcased its latest certified Teams Rooms solution, the MAXHUB XT20-PS Kit. Designed for medium to large meeting rooms, this solution integrates advanced video, audio, and control features for seamless collaboration. The kit includes the XCore Kit Pro, powered by a 12th Gen Intel Core i5 mini-PC and an 11.6-inch touchscreen control panel, supporting wireless content sharing and dual-screen display capabilities.

The MAXHUB UC P30 PTZ Camera features 4K dual-eye tracking, AI-powered auto-framing, and speaker tracking, ensuring clear, flexible video with easy installation options. The MAXHUB UC BM45 Speakerphone offers 360-degree voice pickup through an 8-beam microphone array and AI-driven noise suppression, providing clear, distraction-free audio. With plug-and-play setup, the XT20-PS Kit guarantees reliable, user-friendly performance for Microsoft Teams Rooms.

AI Enhancements Elevating Collaboration

MAXHUB's AI-powered features are designed to redefine hybrid collaboration, creating an immersive and dynamic experience for all participants:

A Strong Partner in Innovation with Microsoft

MAXHUB relationship with Microsoft continues to drive global business growth and technological innovation. By integrating Microsoft Azure cloud technology, MAXHUB leverages Azure Cosmos DB and Azure Kubernetes Services to create a globally distributed architecture. This infrastructure optimizes services like Over-The-Air (OTA) updates and Content Management Systems (CMS), ensuring compliance with regional data regulations while streamlining operations.

"By combining MAXHUB's two decades of R&D expertise with Microsoft's cutting-edge technologies, our collaboration ensures we deliver industry-leading solutions that redefine global collaboration." shared Lin.

Celebrating CES Excellence and Innovation

At CES 2025, MAXHUB reaffirmed its position as a technology leader by showcasing its innovative, collaboration-first solutions. By expanding access to Teams Rooms technology and integrating AI-driven features with award-winning design, MAXHUB is committed to creating meaningful connections in the modern workspace.

For more information on MAXHUB's solutions, visit www.maxhub.com.

About MAXHUB:

MAXHUB is a global leader in integrated commercial display and unified communications solutions. With over 20 years of research and development excellence, MAXHUB empowers organizations worldwide through innovative products, strong supply chain management, and a commitment to enhancing collaboration in diverse work environments.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

MAXHUB Wins CES 2025 Microsoft AI Innovation Award

MAXHUB Wins CES 2025 Microsoft AI Innovation Award

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