Shell divests US Gulf assets for $1.7 billion

HOUSTON, July 2, 2026 – Shell has agreed to sell its interests in the Na Kika platform and Coulomb tieback in the US Gulf to subsidiaries of Talos Energy and Ridgewood Energy for USD 1.7 billion, Shell said on Tuesday.

The deal covers Shell’s 50% non-operated working interest in the Na Kika platform and associated fields, as well as its wholly owned Coulomb tieback. The transaction has an effective date of July 1, 2025 and is expected to close by the end of 2026, subject to regulatory approvals.

“We are actively shaping our portfolio to ensure our upstream business continues to be resilient and increasingly competitive,” Shell upstream president Peter Costello said. “We remain focused on sustaining our material liquids production into the next decade.”

Under the agreement, Shell will receive uncapped upside-linked payments through 2027 and overriding royalty interests on production from new Na Kika tiebacks, subject to conditions. The buyers will also assume certain decommissioning obligations while Shell Trading US will retain rights to offtake from Na Kika and Coulomb through negotiated agreements.

In the US, Shell is a deepwater operator and a leading producer of oil and gas in the US Gulf. The company also operates a trading and supply business and is one of the largest buyers of US LNG.

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