Shell closes $840 million Gulf of America asset sale

Shell Offshore Inc., a subsidiary of Shell plc, completed the sale of its 50% non-operated working interest in the Na Kika platform and associated fields, as well as its 100% owned Coulomb tieback in the Gulf of America. Shell received approximately $840 million in cash proceeds at closing, reflecting adjustments from the effective date of July 1, 2025. The assets were purchased by a subsidiary of Talos Energy and an affiliate of Ridgewood Energy.

The total consideration announced at signing was $1.7 billion before customary adjustments and contingent payments. Shell remains eligible for uncapped upside-linked payments through 2027 and overriding royalty interests on production from new Na Kika tiebacks, subject to conditions. Shell Trading US Company will also retain offtake rights from both assets through negotiated agreements with the buyers, who assumed certain decommissioning obligations.

The Na Kika semi-submersible platform began production in 2003, with operator BP retaining the other 50% working interest. Coulomb began producing in 2005. Shell reported an entitlement production share from these assets of 37,000 barrels of oil equivalent per day for 2025. At the end of 2025, Shell's proved reserves were 4.3 million barrels of oil equivalent for Na Kika and 7.2 million for Coulomb. Shell expects neither asset to be a meaningful contributor to production by 2030.