Shell sells Gulf of Mexico assets to EnVen Energy
Published by Anna Nicklin,
Assistant Editor
World Pipelines,
Shell Offshore, an affiliate of Royal Dutch Shell plc, has recently announced an agreement to sell all of its record title interest in Gulf of Mexico Green Canyon Blocks 114, 158, 202 and 248. These are often referred to as the Brutus/Glider assets.
The assets were sold to to EnVen Energy Corporation, through its affiliate EnVen Energy Ventures, LLC. In line with Shell's global divestment plans, this US$425 million cash transaction is expected to close in October.
The Brutus/Glider 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 Brutus/Glider assets have a combined current production estimate of approximately 25 000 boe/d.
Adapted from press release by Anna Nicklin
Read the article online at: https://www.worldpipelines.com/business-news/30082016/shell-sells-gulf-of-mexico-assets-to-enven-energy/
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