Shell has increased its working interest in the Ursa platform in the Gulf of Mexico from 45.3884% to 61.3484%, the company said on Thursday.
Shell Offshore and Shell Pipeline Company completed the acquisition of additional interests in the Ursa platform and associated assets, previously held by ConocoPhillips.
The deal also includes an 11.81% membership interest in the Ursa Oil Pipeline Company, bringing Shell’s total pipeline interest to 57.20%, a 1% working interest in the Europa prospect and a 3.5% overriding royalty interest in Ursa.
“This acquisition aligns with our strategy of investing in profitable, carbon-competitive oil and gas projects and maintaining stable liquids production in our advantaged upstream business,” Shell said.
Shell remains the operator of the Ursa tension-leg platform, with BP holding 22.6916% and ECP GOM III, LLC holding 15.96%.
Shell is the leading deepwater operator and the largest producer of oil and gas in the US Gulf of Mexico, operating eight major production hubs including Appomattox, Mars, Olympus, Perdido, Vito and Whale. The company continues to invest in subsea tiebacks and new developments such as Dover and Sparta, reinforcing its commitment to the region.
Source: theenergyyear.com