UPDATE 2-Shell to sell Gulf of America assets to Talos Energy, Ridgewood for $1.7 billion
Talos Energy, Inc. TALO | 0.00 | |
Shell Plc Sponsored ADR SHEL | 0.00 |
Adds deal details from paragraph 4
June 30 (Reuters) - Shell SHEL.L said on Tuesday it had agreed to sell its interest in the Na Kika platform and associated fields in the Gulf of America, along with the Coulomb tieback, to subsidiaries of Talos Energy TALO.N and Ridgewood Energy ZCFHCX.O for $1.7 billion.
The assets produced about 37,000 barrels of oil equivalent per day net to Shell in 2025. The company said the fields are not expected to be meaningful contributors to its production by 2030.
The transaction has an effective date of July 1, 2025, and is expected to close by the end of 2026.
Na Kika, Shell's only non-operated Gulf of America platform, began producing in 2003, while Coulomb started production in 2005.
Shell will retain certain upside-linked payments, royalty interests on new Na Kika tiebacks, and offtake rights.
BP, operator of Na Kika, retains the other 50% stake and has a 30-day preferential purchase right.
Shell's proved reserves at the end of 2025 were 4.3 million boe for Na Kika and 7.2 million boe for Coulomb.