(WO) — Shell Offshore Inc. has completed the sale of its interests in the Na Kika platform and Coulomb field in the U.S. Gulf to Talos Energy and an affiliate of Ridgewood Energy, receiving approximately $840 million in cash proceeds at closing.
The transaction includes Shell’s former 50% non-operated working interest in the bp-operated Na Kika platform and associated fields, along with its 100% interest in the Coulomb tieback. Talos acquired a 25% working interest in Na Kika and a 50% working interest and operatorship in Coulomb, with Ridgewood acquiring the remaining interests sold by Shell.
Talos paid a final net cash purchase price of $420 million for its portion of the assets, including a previously escrowed $42.5 million deposit and subject to customary post-closing adjustments.
“The closing of this transaction marks another important step in executing our strategy to build a long-lived, scaled portfolio and become the leading pure-play offshore E&P,” Talos President and CEO Paul Goodfellow said. He added that the oil-weighted assets provide additional cash flow and infrastructure-led growth opportunities in the Gulf.
Shell’s share of production from Na Kika and Coulomb averaged approximately 37,000 boed in 2025. At year-end 2025, Shell reported proved reserves of 4.3 MMboe at Na Kika and 7.2 MMboe at Coulomb.
The Na Kika semisubmersible platform began production in 2003, while production from the Coulomb tieback started in 2005. bp operates Na Kika and retains its 50% working interest.
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 buyers have assumed certain decommissioning obligations, while Shell Trading US Co. will retain offtake rights for production from Na Kika and Coulomb under agreements with the buyers.
Talos said the acquired assets will contribute to its third-quarter 2026 results from the Sept. 22 closing date and will be fully consolidated beginning in the fourth quarter.
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