Royal Dutch Shell Plc (NYSE: RDS.A) is in talks to sell its assets in a Gulf of Mexico (GoM) oil field to Focus Oil to pay for its takeover of BG Group Plc, Bloomberg reported on Sept. 20, citing people familiar with the matter.
The deal could value Shell's stake in the Caesar Tonga Field at about $1.3 billion, the report said.
Shell has a 22.5% working interest in Caesar Tonga, with the rest owned by companies including Anadarko Petroleum Corp. (NYSE: APC), Equinor ASA (NYSE: EQNR) and Chevron Corp. (NYSE: CVX), Bloomberg said, citing company filings.
Shell and Focus Oil did not immediately respond to a request for comment.
Compelling returns at $50 WTI portend bright supply picture.
Between Oct. 6 and Oct. 12, a cumulative total of 10.1 million barrels of crude oil production and 9.6 Bcf of natural gas output from the Gulf of Mexico has been shut because of Hurricane Delta.
Shell shut its Appomattox oil platform about 80 miles off the coast of Louisiana, joining BP, Chevron and Equinor in closing facilities in the U.S. Gulf of Mexico less than one month after Hurricane Laura.