Shell has agreed to sell a portfolio of mature deepwater assets in the U.S. Gulf of Mexico to Talos Energy and Ridgewood Energy for $1.7 billion in cash, continuing its strategy of concentrating capital on higher-growth, longer-life offshore developments. The transaction includes Shell’s 50% non-operated interest in BP’s Na Kika platform, four producing fields—Kepler, Ariel, Fourier, and Herschel—and its 100% ownership of the Coulomb subsea tieback.
The assets produced approximately 37,000 barrels of oil equivalent per day (boe/d) net to Shell in 2025 but were not expected to materially contribute to the company’s production by 2030. Talos Energy will acquire a 50% interest in the transaction with an $850 million purchase price, although the company expects its net cash outlay to be approximately $450–500 million after accounting for interim cash flows from the July 1, 2025 effective date. The acquisition is expected to close before the end of 2026, further expanding Talos’ operated footprint and production base in the U.S. Gulf.
Author: phinds
