Shell Concludes Gulf of America Asset Sale
September 23, 2026
Shell has completed the sale of its 50% non-operated interest in the Na Kika platform and associated fields in the Gulf of America, along with its wholly-owned Coulomb tieback, receiving about $840 million in cash at closing.
The assets were acquired by a subsidiary of Talos Energy and an affiliate of Ridgewood Energy, Shell said.
Total consideration announced when the transaction was signed was $1.7 billion before customary adjustments and certain contingent payments. The roughly $840 million received at closing reflects adjustments between the deal's July 1, 2025 effective date and completion.
Shell will also receive uncapped upside-linked payments through 2027 and overriding royalty interests on production from new Na Kika tiebacks, subject to certain conditions.
The assets accounted for 37,000 barrels of oil equivalent per day of Shell entitlement production in 2025. Shell's proved reserves at the end of that year stood at 4.3 million boe for Na Kika and 7.2 million boe for Coulomb.
BP operates Na Kika and holds the remaining 50% working interest. The semi-submersible platform began production in 2003, while production from the Coulomb tieback started in 2005.
The buyers will assume certain decommissioning obligations and provide security related to those obligations, while Shell Trading US Company will retain rights to offtake production from Na Kika and Coulomb under agreements negotiated with the buyers.
Shell said its modelling indicates Na Kika and Coulomb will no longer be meaningful contributors to its production by 2030.
