Royal Dutch Shell plc is divesting 100 percent of its record title interest in Gulf of Mexico Green Canyon Blocks 114, 158, 202 and 248, located offshore Louisiana.
The blocks referred to as the Brutus/Glider assets, will be acquired by EnVen Energy Corporation, through its affiliate EnVen Energy Ventures, LLC.
Shell said that in line with Shell’s global divestment plans, this transaction includes $425 million in cash. The 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 barrels of oil equivalent per day (boe/d).
Shell currently produces approximately 600,000 boe/d and plans to increase production to more than 900,000 boe/d by the early 2020s from already discovered, established reservoirs.
The two fields sold to EnVen caught attention in May this year when 2.100 barrels of oil from the Glider field spilled into the sea.