Energy major Shell plc has completed the divestment of its 50 per cent working interest in the Na Kika platform and associated fields in the Gulf of America, along with its 100 per cent owned Coulomb tieback.
The transaction, executed through subsidiary Shell Offshore Inc., delivered approximately US$840 million (AU$1.24 billion) in net cash proceeds, following standard financial adjustments between the effective date of July 1, 2025 and closing.
The assets were acquired by a subsidiary of Talos Energy and an affiliate of Ridgewood Energy, under an initial agreement valued at US$1.7 billion prior to customary adjustments.
The sale aligns with Shell’s push to streamline its portfolio and boost the competitiveness of its global upstream operations.
In 2025, Shell’s entitlement share of production from the assets averaged 37,000 barrels of oil equivalent per day. Company modelling indicates that Na Kika and Coulomb would cease to be meaningful production contributors by 2030.
Under the terms of the deal, Shell secures uncapped upside-linked payments through 2027 and overriding royalty interests on future production from potential new Na Kika tiebacks, subject to specific conditions.
Additionally, the buyers will assume full decommissioning obligations for the infrastructure and provide corresponding security.
Shell Trading US Company will retain continuous offtake rights for output from Na Kika and Coulomb via negotiated commercial agreements.
The Na Kika semi-submersible platform, in which BP holds the remaining 50 per cent operating stake, has been in operation since 2003, while Coulomb commenced production in 2005.
Despite the asset sale, Shell remains the premier deep-water operator and leading oil and gas producer in the Gulf of America.
The company continues to maintain an expansive footprint in the United States, backed by more than 11,000 employees and a nationwide network of 12,000 branded service stations.
