Shell Offloads Na Kika Stake in $840 Million Gulf of Mexico Deal

The deal encompasses a significant portion of Shell's legacy deep-water infrastructure in the Gulf of Mexico. While the initial agreement pegged the total consideration at $1.7 billion, the final cash payment reflects adjustments made since the effective date of July 1, 2025. Beyond the upfront cash, Shell retains the right to uncapped upside-linked payments through 2027 and overriding royalty interests on future production from new Na Kika tiebacks.

Shell’s decision to divest follows internal modeling suggesting that the Na Kika and Coulomb assets will no longer be meaningful contributors to the company's production profile by 2030. In 2025, Shell's entitlement share from these fields averaged 37,000 barrels of oil equivalent per day. As part of the transition, the buyers have assumed specific decommissioning obligations, while Shell Trading US Company will maintain rights to offtake production through new agreements.