Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell plc, have finalised an agreement to significantly increase their working interest in the Ursa platform, a major deep-water asset in the Gulf of America.
The deal, which was previously announced, raises Shell’s stake in the Ursa Tension-Leg Platform (TLP) from 45.3884 per cent to 61.3484 per cent, further consolidating the company’s leadership in the region.
The transaction is a key component of Shell’s broader strategy to invest in profitable, carbon-competitive oil and gas projects that offer robust integration across the value chain.
By deepening its interest in existing, high-performing assets like Ursa, Shell aims to maintain stable production levels from its advantaged Upstream portfolio while enhancing operational efficiency and value creation.
As the operator of the Ursa TLP, Shell now holds a 61.3484 per cent working interest, with BP Exploration & Production Inc. retaining 22.6916 per cent and ECP GOM III, LLC holding 15.96 per cent.
The agreement also includes several strategic assets acquired from ConocoPhillips.
Notably, SPLC will now hold an 11.81 per cent membership interest in the Shell-operated Ursa Oil Pipeline Company LLC, increasing Shell’s working interest in the Ursa pipeline from 45.39 per cent to 57.20 per cent following the exercise of preferential rights by other partners.
Further, Shell has acquired a 1 per cent working interest in the Europa prospect, another Shell-operated asset, and a 3.5 per cent overriding royalty interest in Ursa.
These additions reinforce Shell’s focus on maximising value from assets located in the most prolific corridors of the Gulf of America, close to its existing infrastructure.
Shell US remains the leading deep-water operator and the largest producer of oil and gas in the Gulf of America.
The company’s continued investment in the region underscores its commitment to safe, reliable, and responsible energy production, while supporting long-term energy security and economic growth.
