Houston – September 22, 2026 -- Shell Offshore Inc. has closed the sale of its 50% non-operated stake in the Na Kika platform and its wholly owned Coulomb tieback in the Gulf of America, collecting approximately $840 million in cash proceeds after adjustments tied to a July 1, 2025 effective date.
Talos Energy and Ridgewood Energy affiliates take over Gulf of America assets
A subsidiary of Talos Energy and an affiliate of Ridgewood Energy acquired the interests, which were originally valued at $1.7 billion in total consideration at signing before customary adjustments and contingent payments. BP, which operates Na Kika, retains the remaining 50% working interest in the platform.
Shell retains upside through 2027 via royalty and contingent payments
Shell will collect uncapped upside-linked payments through 2027 and overriding royalty interests on production from new Na Kika tiebacks, subject to conditions. The buyers have assumed certain decommissioning obligations and are providing security against those liabilities. Shell Trading US Company will continue to offtake production from both assets under negotiated agreements with the new owners.
Divested fields contributed 37,000 boe/d to Shell's 2025 output
Shell's entitlement share of production from Na Kika and Coulomb stood at 37,000 barrels of oil equivalent per day in 2025. Company modeling indicated the assets would not be meaningful production contributors by 2030. Proved reserves at year-end 2025 totaled 4.3 million boe for Na Kika and 7.2 million boe for Coulomb.
Sale follows Shell's push to sharpen its Upstream portfolio
The transaction is part of Shell's effort to reshape its portfolio toward a more resilient and competitive Upstream business. Na Kika began producing in 2003, with the Coulomb tieback following in 2005, making both mature assets within Shell's deep-water Gulf holdings. Shell continues to hold what it describes as a leading deep-water position in the Gulf of America alongside its Brazil operations.