Shell (SHEL.L) announced on Tuesday that it has agreed to sell its interests in the Na Kika platform and related oilfield assets in the Gulf of Mexico, along with the Coulomb tieback pipeline, to subsidiaries of Talos Energy (TALO.N) and Ridgewood Energy (ZCFHCX.O) for a total transaction value of $1.7 billion. The effective date of the asset sale is July 1, 2025, and the deal is expected to close by the end of 2026.
In 2025, these assets contributed net production of approximately 37,000 barrels of oil equivalent per day (boe/d) to Shell. Shell stated that, according to its internal models, the Na Kika and Coulomb fields will no longer make a significant contribution to its production by 2030.
Talos Energy disclosed that its payable consideration is $850 million, and after accounting for interim cash flows from the effective date, the final net cash consideration is expected to be between $450 million and $500 million. Upon completion, Talos will acquire a 50% working interest and operatorship of the Coulomb field, as well as a 25% non‑operated interest in the BP‑operated Na Kika platform and its four associated fields: Kepler, Ariel, Fourier, and Herschel. In the first quarter of 2026, the production attributable to these interests averaged approximately 16,000 boe/d, of which about 77% was oil, and added approximately 23 million boe of proved reserves.
Na Kika is Shell’s only non‑operated platform in the Gulf of Mexico, having been brought online in 2003, while Coulomb started production in 2005. After the transaction closes, Shell will retain certain contingent payments linked to earnings, royalty interests in new Na Kika tieback projects, and offtake rights. BP, the operator of the Na Kika field, holds the remaining 50% interest and has a 30‑day right of first refusal. As of the end of 2025, Shell’s proved reserves in Na Kika and Coulomb were 4.3 million boe and 7.2 million boe, respectively.
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Post time: Jul-02-2026