Shell Divests Gulf of America Deepwater Assets as Talos Energy Moves to Expand Offshore Portfolio

## Shell Exits Na Kika Platform Stake in Gulf of America Deal Shell Offshore Inc., a subsidiary of Shell plc, has agreed to divest its 50% non-operated working interest in the Na Kika deepwater platform and associated fields in the Gulf of America, along with its 100% owned Coulomb tieback, according to announcements released by both companies on June 30, 2026. The buyer, Houston-based Talos Energy Inc. (NYSE: TALO), confirmed the acquisition in a separate statement, describing the transaction as a joint purchase of the deepwater assets alongside an undisclosed affiliate partner. ### Strategic Significance The Na Kika platform is a semi-submersible production facility operating in approximately 6,350 feet of water in the Gulf of America, making it one of the more technically demanding deepwater installations in the region. The platform has historically been a significant producing asset, and the Coulomb tieback adds further subsea production infrastructure to the package. For Shell, the divestiture aligns with the company's broader portfolio rationalisation strategy, which has seen the supermajor selectively exit non-operated positions in mature deepwater assets to concentrate capital on higher-priority developments. For Talos Energy, the acquisition represents a meaningful expansion of its Gulf of America deepwater footprint. The independent operator has been actively pursuing growth through targeted acquisitions of producing offshore assets, and the Na Kika stake would add established production and infrastructure access to its existing portfolio. ### Market Context The transaction reflects continued activity in the Gulf of America deepwater mergers and acquisitions market, where independents and mid-sized operators have increasingly stepped in to acquire assets being shed by the majors. Deepwater Gulf production remains economically competitive at current oil price levels, and infrastructure-led acquisitions — where buyers gain access to existing platforms and tiebacks — are particularly attractive given the capital intensity of greenfield deepwater development. Financial terms of the transaction were not disclosed in the initial announcements. Completion of the deal is expected to be subject to customary regulatory approvals and closing conditions. Both Shell and Talos Energy made their announcements via PR Newswire on June 30, 2026.