Shell Completes $840 Million Sale of Gulf of Mexico Assets to Talos, Ridgewood

Shell closed the sale of its interests in two U.S. Gulf of Mexico assets to Talos Energy and Ridgewood Energy on September 23, 2026, collecting about $840 million in cash at closing. The divestiture covers Shell's former 50% non-operated stake in BP-operated Na Kika and its 100% interest in the Coulomb tieback. Talos acquired 25% of Na Kika and 50% plus operatorship of Coulomb, paying $420 million including a prior $42.5-million deposit. Ridgewood took the remaining interests. The deal was announced in June with total consideration of $1.7 billion before adjustments and contingent payments. Talos said the acquired interests produced roughly 16,000 barrels of oil equivalent per day in the first quarter of 2026, about 77% oil, and hold an estimated 23 million boe of proved reserves plus 10 million boe probable. Shell's share of output from the assets averaged about 37,000 boed in 2025, but the company expects no meaningful production contribution from either by 2030. Shell retains contingent payments through 2027, royalties on new Na Kika tiebacks and offtake rights.