Shell 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 and Ridgewood Energy 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.
Talos said its share of the consideration is $850 million, with final net cash consideration expected at $450 million to $500 million after interim cash flow from the effective date.
It added that it will acquire a 50% working interest and operatorship in Coulomb and a 25% non-operated stake in the BP-operated Na Kika platform and four associated fields — Kepler, Ariel, Fourier and Herschel.
The assets produced about 16,000 barrels of oil equivalent per day in the first quarter of 2026, about 77% oil, and add roughly 23 million barrels of oil equivalent of proved reserves.
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.
Source: Reuters.com