Shell sells Gulf of America assets for $1.7 billion to Talos Energy Ridgewood

Shell announced a deal on Tuesday to sell its interest in the Na Kika Platform and associated fields in the Gulf of America to subsidiaries of Talos Energy & Ridgewood Energy. The sale will be for $1.7 billion.

Shell will produce 37,000 barrels equivalent to oil per day from the assets in 2025. The company stated that the fields will not be expected to contribute significantly to Shell's production by 2030.

The transaction is expected to be completed by the end?of 2026.

Talos stated that its share of consideration is $850 millions, with final cash consideration expected to be between $450 and $500 million following interim cash flow.

It said?that it would acquire a 50% interest in Coulomb, operatorship, and a non-operated 25% stake in the BP Na Kika platform, and four fields associated with that platform -- Kepler Ariel Fourier Herschel.

The assets produced approximately 16,000 barrels per day of oil equivalent in the first quarter 2026. This is about 77% of oil. They also added roughly 23 million barrels oil equivalent of proven reserves.

Shell's Na Kika platform, the only one not operated by Shell in the Gulf of America, started producing in 2003. Coulomb began production in 2005.

Shell will retain certain up-side-linked payments, royalties interests?on the new Na Kika tiebacks?, and offtake rights.

BP, the operator of Na Kika retains 50% and has a 30-day?purchase preference right.

Shell's proven reserves at the end of 2025 were 4.3 million boe in Na Kika, and 7.2 millions boe in Coulomb. Reporting by Arunima and Pranav Mathur from Bengaluru, Editing by Vijay Kishore, Maju Samuel and Vijay Kishore

(source: Reuters)