Shell has agreed to sell a 50% nonoperated interest in the Na Kika platform in the US Gulf of Mexico (also called the Gulf of America) along with four nonoperated satellite fields and Shell’s wholly owned Coulomb subsea tieback.
Talos Energy and Ridgewood Energy will acquire the assets, splitting the cost evenly for a combined $1.7 billion.
“The Gulf of America is one of our highest-value basins, and we are actively shaping our portfolio to ensure our upstream business continues to be resilient and increasingly competitive,” Peter Costello, the upstream president for Shell, said in a statement. “We remain focused on sustaining our material liquids production into the next decade.”
The Na Kika semisubmersible platform, Shell’s only nonoperated asset in the Gulf, began production in 2003. First oil from the Coulomb tieback was achieved in 2005. Na Kika is located 140 miles southeast of New Orleans and operates at a depth of 6,340 ft.
Shell said its combined share of production from the assets was 37,000 BOE/D in 2025. Na Kika’s remaining proved reserves were 4.3 million BOE at end of 2025 and 7.2 million BOE at end of 2025 for Coulomb. However, the London-based supermajor said its modeling shows that the maturing assets “will not be meaningful contributors to production by 2030.”
Shell added that the transaction include uncapped upside payments through 2027 if realized oil prices exceed $60/bbl, and overriding royalty interests on production from new tiebacks to Na Kika.
Talos said in a release that it expects its share of the final purchase price to be between $450 million and $500 million, which assumes the deal closes by September of this year.
Talos also noted that the acquisition will boost its oil production by about 20% from 64,000 B/D of crude to 76,000 B/D. With gas production included, Talos expects to see its production rise from 89,000 BOE/D to 105,000 BOE/D.
BP is the operator of Na Kika, with a 50% working interest, and holds a 30-day right of preferential purchase for the related assets.