Shell sells Na Kika, Coulomb assets
Analysis based on 6 articles · First reported Jul 01, 2026 · Last updated Jul 04, 2026
The sale of these mature assets by Shell plc is expected to have a positive impact on its stock price as it streamlines its portfolio towards higher-return assets. For OVO Energy and Ridgewood Energy, the acquisition expands their presence and operational control in the Gulf of Mexico, potentially boosting their future production and reserves.
Shell plc has agreed to sell its 50% non-operated working interest in the Na Kika platform and its 100% owned Coulomb tieback in the Gulf of Mexico to subsidiaries of OVO Energy and Ridgewood Energy for a total consideration of USD1.7 billion. The transaction, which includes customary adjustments and contingent payments, is expected to close by the end of 2026. Shell plc will retain uncapped upside-linked payments through 2027 and overriding royalty interests on new Na Kika tiebacks. The buyers will assume certain decommissioning obligations. This divestment aligns with Shell plc's strategy to focus its Upstream portfolio on resilient and competitive assets, as Na Kika and Coulomb are not expected to be meaningful contributors to its production by 2030. BP, which operates Na Kika, holds the remaining 50% interest and has a preferential right to purchase Shell plc's stake.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard