# Shell completes sale of interest in Gulf of America platform

- Link: https://www.thailand-business-news.com/pr-news/shell-completes-sale-of-interest-in-gulf-of-america-platform
- Published: 2026-09-23T03:15:00+07:00
- Author: PR Newswire

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HOUSTON, Sept. 23, 2026 /PRNewswire/ — Shell Offshore Inc., a subsidiary of Shell
plc, has completed the [previously announced agreement](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4780201-1&h=1976134295&u=https%3A%2F%2Fwww.shell.com%2Fnews-and-insights%2Fnewsroom%2Fnews-and-media-releases%2F2026%2Fshell-to-sell-interest-in-gulf-of-america-platform.html&a=previously+announced+agreement)
to sell its 50% non-operated working interest in the Na Kika platform and associated
fields in the Gulf of America as well as its 100% owned Coulomb tieback. Shell received
approximately $840 million in cash proceeds, reflecting adjustments between the 
effective date of July 1, 2025, and closing. The assets were acquired by a subsidiary
of Talos Energy and an affiliate of Ridgewood Energy.

The transaction supports Shell’s efforts to actively shape its portfolio to ensure
a resilient and increasingly competitive Upstream business. 

**Notes to editors** 

 ◦ 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 (ORRI) on production from new Na Kika tiebacks, subject to 
   conditions.
 ◦ For 2025, Shell entitlement share of production from these assets was 37,000 
   barrels of oil equivalent per day. According to Shell’s modeling, Na Kika and
   Coulomb will not be meaningful contributors to production by 2030.
 ◦ The deal includes buyers assuming certain decommissioning obligations and providing
   security with respect to such obligations.
 ◦ Shell Trading US Company will retain rights to offtake from Na Kika and Coulomb
   through negotiated agreements with the buyers.
 ◦ The Na Kika semi-submersible platform began producing in 2003. Production from
   the Coulomb tieback began in 2005.
 ◦ BP, as operator of Na Kika, holds the remaining 50% working interest in Na Kika.
 ◦ Shell proved reserves were 4.3 million barrels of oil equivalent (boe) at the
   end of 2025 for Na Kika and 7.2 million boe at the end of 2025 for Coulomb.
 ◦ Shell’s Deep Water business is differentiated by its scale, efficiency, and infrastructure.
   Shell is the only international oil company with a leading portfolio position
   in both the Gulf of America and Brazil, two of the highest-margin and lowest-
   carbon production basins in the world.
 ◦ The US is a key market and a leading destination for Shell investment, with operations
   and interests in all 50 states. Shell is the leading deep-water operator and 
   largest producer of oil and gas in the Gulf of America and one of the largest
   buyers of US LNG. Through our Trading & Supply network, we move US energy reliably—
   from power and low-carbon fuels to LNG and refined products—to customers nationwide
   and globally. Shell operates the largest branded fuel network in the United States,
   with about 12,000 Shell branded gas stations serving more than seven million 
   customers daily. With more than 100 years in the US and more than 11,000 employees(
   as of January 23, 2026), Shell is delivering secure energy supplies and meeting
   the evolving needs of our customers today and into the future.

**Cautionary Note**

The companies in which Shell plc directly and indirectly owns investments are separate
legal entities. In this press release "Shell", "Shell Group" and "Group" are sometimes
used for convenience to reference Shell plc and its subsidiaries in general. Likewise,
the words "we", "us" and "our" are also used to refer to Shell plc and its subsidiaries
in general or to those who work for them. These terms are also used where no useful
purpose is served by identifying the particular entity or entities. ”Subsidiaries”,"
Shell subsidiaries" and "Shell companies" as used in this press release refer to
entities over which Shell plc either directly or indirectly has control. The terms"
joint venture", "joint operations", "joint arrangements", and "associates" may also
be used to refer to a commercial arrangement in which Shell has a direct or indirect
ownership interest with one or more parties. The term "Shell interest" is used for
convenience to indicate the direct and/or indirect ownership interest held by Shell
in an entity or unincorporated joint arrangement, after exclusion of all third-party
interest.

**Forward-Looking statementsThis press release contains forward-looking statements(
within the meaning of the U.S. Private Securities Litigation Reform Act of 1995)
concerning the financial condition, results of operations and businesses of Shell.
All statements other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements are statements of future
expectations that are based on management’s current expectations and assumptions,
including (without limitation) those concerning Shell’s strategy and operating plans,
macroeconomic conditions, future energy demand, supply and product mix, commodity
prices, demand for Shell’s products, production results and reserve estimates, development,
execution and management of projects, energy transition and climate change, management
of safety and environmental risks, costs, cash capital expenditures, technology 
advancements, legislative, judicial, fiscal and regulatory developments, regional
conflicts and trading conditions, and involve known and unknown risks and uncertainties
that could cause actual results, performance or events to differ materially from
those expressed or implied in these statements. Forward-looking statements include,
among other things, statements concerning the potential exposure of Shell to market
risks and statements expressing management’s expectations, beliefs, estimates, forecasts,
projections and assumptions. These forward-looking statements are identified by 
their use of terms and phrases such as "aim"; "ambition"; ”anticipate”; "aspire","
aspiration", ”believe”; "commit"; "commitment"; ”could”; "desire"; ”estimate”; ”
expect”; ”goals”; ”intend”; ”may”; "milestones"; ”objectives”; ”outlook”; ”plan”;”
probably”; ”project”; ”risks”; "schedule"; ”seek”; ”should”; ”target”; "vision";”
will”; "would" and similar terms and phrases. There are a number of factors that
could affect the future operations of Shell and could cause those results to differ
materially from those expressed in the forward-looking statements included in this
press release, including (without limitation): (a) price fluctuations in crude oil
and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations;(
d) drilling and production results; (e) reserves estimates; (f) loss of market share
and industry competition; (g) environmental and physical risks, including climate
change; (h) risks associated with the identification of suitable potential acquisition
properties and targets, and successful negotiation and completion of such transactions;(
i) the risk of doing business in developing countries and countries subject to international
sanctions; (j) legislative, judicial, fiscal and regulatory developments including
tariffs and regulatory measures addressing climate change; (k) economic and financial
market conditions in various countries and regions; (l) political risks, including
the risks of expropriation and renegotiation of the terms of contracts with governmental
entities, delays or advancements in the approval of projects and delays in the reimbursement
for shared costs; (m) risks associated with the impact of pandemics, regional conflicts,
such as the Russia-Ukraine war and the conflict in the Middle East, and a significant
cyber security, data privacy or IT incident; (n) the pace of the energy transition;
and (o) changes in trading conditions. No assurance is provided that future dividend
payments will match or exceed previous dividend payments. All forward-looking statements
contained in this press release are expressly qualified in their entirety by the
cautionary statements contained or referred to in this section. Readers should not
place undue reliance on forward-looking statements. Additional risk factors that
may affect future results are contained in Shell plc’s Form 20-F for the year ended
December 31, 2025 (available at [www.shell.com/investors/news-and-filings/sec-filings.html](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4780201-1&h=2362368877&u=https%3A%2F%2Fwww.shell.com%2Finvestors%2Fnews-and-filings%2Fsec-filings.html&a=www.shell.com%2Finvestors%2Fnews-and-filings%2Fsec-filings.html)
and [www.sec.gov](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4780201-1&h=1374600855&u=http%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov)).
These risk factors also expressly qualify all forward-looking statements contained
in this press release and should be considered by the reader.  Each forward-looking
statement speaks only as of the date of this press release, September 22, 2026. 
Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly
update or revise any forward-looking statement as a result of new information, future
events or other information. In light of these risks, results could differ materially
from those stated, implied or inferred from the forward-looking statements contained
in this press release.

**Shell’s** **net** **carbon** **intensity** **and** **net-zero** **emissions** **
target** 
In this press release we may refer to Shell’s "net carbon intensity" (
NCI), which includes Shell’s carbon emissions from the production of our energy 
products, our suppliers’ carbon emissions in supplying energy for that production
and our customers’ carbon emissions associated with their use of the energy products
we sell. Shell’s NCI also includes the emissions associated with the production 
and use of energy products produced by others which Shell purchases for resale. 
Shell only controls its own emissions. The use of the terms Shell’s "net carbon 
intensity" or NCI is for convenience only and not intended to suggest these emissions
are those of Shell plc or its subsidiaries. 

Shell’s operating plan and outlook are forecasted for a three-year period and ten-
year period, respectively, and are updated every year. They reflect the current 
economic environment and what we can reasonably expect to see over the next three
and ten years. Accordingly, the outlook reflects our combined Scope 1 and 2 target,
NCI target and our oil products ambition over the next ten years. However, Shell’s
operating plan and outlook cannot reflect our 2050 net-zero emissions target, as
this target is outside our planning period. Such future operating plans and outlooks
could include changes to our portfolio, efficiency improvements and the use of carbon
capture and storage and carbon credits. In the future, as society moves towards 
net-zero emissions, we expect Shell’s operating plans and outlooks to reflect this
movement. However, if society is not net zero in 2050, as of today, there would 
be significant risk that Shell may not meet this target. 

The information provided above regarding Shell’s NCI and net zero emissions target
are not intended, nor should they be construed as introducing, suggesting or making
any claim, target or representation thereof other than what is included in the press
release. 

**Forward-Looking non-GAAP measuresThis press release may contain certain forward-
looking non-GAAP measures such as free cash flow and underlying operating expenses.
We are unable to provide a reconciliation of these forward-looking non-GAAP measures
to the most comparable GAAP financial measures because certain information needed
to reconcile those non-GAAP measures to the most comparable GAAP financial measures
is dependent on future events some of which are outside the control of Shell, such
as oil and gas prices, interest rates and exchange rates. Moreover, estimating such
GAAP measures with the required precision necessary to provide a meaningful reconciliation
is extremely difficult and could not be accomplished without unreasonable effort.
Non-GAAP measures in respect of future periods which cannot be reconciled to the
most comparable GAAP financial measure are calculated in a manner which is consistent
with the accounting policies applied in Shell plc’s consolidated financial statements.
These forward-looking non-GAAP measures are provided to assist readers in understanding
management’s use and expectations of such measures and may not be appropriate for
other purposes. 

The contents of websites referred to in this press release do not form part of this
press release.

We may have used certain terms, such as resources, in this press release that the
United States Securities and Exchange Commission (SEC) strictly prohibits us from
including in our filings with the SEC. Investors are urged to consider closely the
disclosure in our Form 20-F, File No 1-32575, available on the SEC website [www.sec.gov](https://edge.prnewswire.com/c/link/?t=0&l=en&o=4780201-1&h=3891885969&u=https%3A%2F%2Fwww.sec.gov%2F&a=www.sec.gov).

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