Shell completes sale of Na Kika and Coulomb interests
- Shell sold its 50% non‑operated working interest in the Na Kika platform and associated fields and its 100% owned Coulomb tieback.
- Shell received approximately $840 million in cash proceeds, reflecting adjustments between the July 1, 2025 effective date and closing.
- Buyers were a subsidiary of Talos Energy and an affiliate of Ridgewood Energy; BP remains operator and holds the other 50% of Na Kika.
- Shell entitlement was 37,000 barrels of oil equivalent per day in 2025; proved reserves at end‑2025 were 4.3 million boe (Na Kika) and 7.2 million boe (Coulomb); Shell models them as not meaningful by 2030.
Transaction
Shell Offshore Inc. completed the previously announced agreement to sell its 50% non‑operated working interest in the Na Kika platform and associated fields in the Gulf of America and its 100% owned Coulomb tieback. The assets were acquired by a subsidiary of Talos Energy and an affiliate of Ridgewood Energy. The effective date was July 1, 2025, and Shell received approximately $840 million in cash proceeds after adjustments between that date and closing.
Financial terms
The total consideration announced at signing was $1.7 billion before customary adjustments and certain contingent payments. Shell will receive uncapped upside‑linked payments through 2027 and overriding royalty interests on production from new Na Kika tiebacks, subject to conditions.
Production and reserves
For 2025 Shell's entitlement share of production from these assets was 37,000 barrels of oil equivalent per day. Proved reserves at the end of 2025 were 4.3 million boe for Na Kika and 7.2 million boe for Coulomb. According to Shell’s modelling, Na Kika and Coulomb will not be meaningful contributors to production by 2030. BP, as operator of Na Kika, retains the remaining 50% working interest.
Liabilities and offtake
The sale includes buyers assuming certain decommissioning obligations and providing security for those obligations. Shell Trading US Company will retain rights offtake from Na Kika and Coulomb through negotiated agreements with the buyers. Na Kika began producing in 2003 and the Coulomb tieback in 2005.
Source: Shell