Oil and gas firm says sale consistent with global divestment plan
HOUSTON—Royal Dutch Shell plc has sold several offshore Gulf of Mexico holdings to EnVen Energy Corp. for US$425 million.
Known as the Brutus/Glider assets, the deal covers Shell’s record title interest, as well as its royalty rights, in Gulf of Mexico Green Canyon Blocks 114, 158, 202 and 248.
Currently producing an estimated 25,000 barrels of oil equivalent per day, the assets include the Brutus Tension Leg Platform, the Glider subsea production system, as well as related oil and gas pipelines.
The company said the sale is part of its global divestment plan.
The deal is expected to close in October.