Shell Sells Gulf of America Assets for $1.7 Billion

Shell Offshore Inc. completed the sale of its 50% non-operated working interest in the Na Kika platform and associated fields, along with its 100% owned Coulomb tieback, in the Gulf of America. The assets were acquired by a subsidiary of Talos Energy and an affiliate of Ridgewood Energy.

Shell received approximately $840 million in cash proceeds at closing. The total consideration at signing was announced at $1.7 billion before adjustments and contingent payments. The agreement includes uncapped upside-linked payments through 2027 and overriding royalty interests on production from new Na Kika tiebacks. The buyers have assumed certain decommissioning obligations, while Shell Trading US Company retains rights to offtake production from the assets through negotiated agreements.

BP continues to operate the Na Kika platform and maintains the remaining 50% working interest. The divestment is part of a broader strategy to increase the resilience and competitiveness of Shell's Upstream business, as company modeling indicated these assets would not be meaningful production contributors by 2030.