By Christie U. Omonigho
Shell said it has pushed up its stake in the Ursa platform in the US Gulf of Mexico from approximately 45 to 61%.
The acquisition Shell said completes a previously announced agreement with ConocoPhillips and Shell says it is part of its strategy to invest in profitable and carbon-competitive oil and gas projects with a strong integrated value chain.
Shell is the operator of the Ursa tension-leg platform (TLP) with BP Exploration & Production Inc. holding approximately 23% interest and ECP GOM III LLC holding the remaining 16%.
The transaction Energy Window International (Media) has learnt will also include the following from ConocoPhillips:
- An 11.81% membership interest in the Shell-operated Ursa Oil Pipeline Co. LLC;
- The agreement has been adjusted following preferential rights election by partners, bringing company’s (SHELL) working interest in the Ursa pipeline from 45.39 to 57.20%;
- 1% working interest in the Europa prospect (also operated by Shell) and;
- 5% overriding royalty interest in Ursa.
Meanwhile the company has issued an advance notice for the release of its 2ⁿᵈ quarter 2025 results and 2ⁿᵈ quarter 2025 interim dividend announcement both of which are slated for Thursday July 31st, 2025 at 07:00 BST (08:00 CEST and 02:00 EDT).