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Shell sells of Gulf of Mexico assets in $425m deal with EnVen Energy

Shell news
Shell news

Oil major Shell has agreed a $425million deal to sell all of its interest in a number of Gulf of Mexico Green Canyon blocks to EnVen Energy Corporation.

The company said the transaction is expected to close in October.

The deal for the Brutus and Glider assets is part of Shell’s plans to divest a number of its global interests as it looks to make changes to its overall portfolio.

Shell said the assets include the Brutus Tension Leg Platform (TLP), the Glider subsea production system, and the oil and gas lateral pipelines used to evacuate the production from the TLP.

The assets currently have a combined production estimate of 25,000 barrels of oil equivalent per day.

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