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Shell Sells 50% Stake in Na Kika Platform to Talos Energy and Ridgewood Energy for $1.7 Billion
Shell agreed to sell half its interest in the Na Kika deepwater platform and related Gulf of Mexico assets to Talos Energy and Ridgewood Energy. The $1.7 billion transaction includes associated fields and the Coulomb tieback.
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Shell sold a 50% stake in the Na Kika oil platform and related assets to Talos Energy and Ridgewood Energy for $1.7 billion. OilPrice.com reported that the buyers will also acquire Shell’s interests in associated fields and the Coulomb tieback, which Shell owns fully. BP remains Shell’s partner in the Na Kika platform.
The platform sits in deepwater off the Louisiana coast and connects to eight fields. It can produce up to 130,000 barrels of crude per day. Peter Costello, president of Shell’s Upstream division, said the Gulf of America remains one of the company’s highest-value basins.
He added that Shell is shaping its portfolio to keep the Upstream business resilient and competitive while sustaining material liquids production into the next decade. Shell targets a 1% annual growth rate in oil and gas output by 2030, with liquids production averaging 1.4 million barrels daily.
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