BAKU, Azerbaijan, September 23. Shell Offshore Inc., a subsidiary of Shell plc, has completed the previously announced sale of its interests in the Na Kika platform and associated fields in the Gulf of America, as well as its wholly owned Coulomb tieback, the company said.
Shell received approximately $840 million in cash proceeds from the transaction, including 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.
"The total consideration announced when the deal was signed was $1.7 billion, before customary adjustments and certain contingent payments. 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 company said.
As part of the transaction, the buyers will assume certain decommissioning obligations and provide security for those obligations. Shell Trading US Company will retain offtake rights from Na Kika and Coulomb under agreements negotiated with the buyers.
For 2025, Shell's entitlement share of production from the assets was 37,000 barrels of oil equivalent per day. However, Shell's modelling indicates that Na Kika and Coulomb will no longer be meaningful contributors to its production by 2030.
The Na Kika semi-submersible platform started production in 2003, while production from the Coulomb tieback began in 2005. BP, which operates Na Kika, holds the remaining 50% working interest in the platform.
Shell reported proved reserves of 4.3 million boe for Na Kika and 7.2 million boe for Coulomb at the end of 2025.
The transaction is part of Shell's efforts to actively manage its portfolio and strengthen the resilience and competitiveness of its Upstream business.
Shell said its Deep Water business is focused on scale, efficiency and the use of existing infrastructure. The company describes the Gulf of America and Brazil as two of the highest-margin and lowest-carbon production basins in the world, and says it is the only international oil company with a leading portfolio position in both.
The Gulf of America, formerly known as the Gulf of Mexico, is a core area of Shell's US upstream operations. According to Shell, the company is the leading deep-water operator and largest oil and gas producer in the Gulf of America, while the US remains a key market and major destination for Shell investment.
Shell has operations and interests across all 50 US states and is also one of the largest buyers of US LNG. Its US business spans upstream production, LNG, trading and supply, refined products and retail, with around 12,000 Shell-branded service stations serving more than seven million customers daily.
Shell has operated in the US for more than 100 years and had more than 11,000 employees as of January 23, 2026, according to the company.
