SUBSCRIBE
PROFILE

Shell increases its stake in the Ursa platform in the Gulf of Mexico

Shell Offshore Inc. and Shell Pipeline Company, subsidiaries of Shell plc, have reached an agreement to acquire ConocoPhillips' stake in the Ursa and Europa fields, further strengthening their position in the Gulf of Mexico.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

SUBSCRIBE — 99 $ for the 1st year

Create a free account to read this article

*renews at 199$/year, cancel anytime before renewal.

Shell Offshore Inc. and Shell Pipeline Company, subsidiaries of Shell plc, have signed an agreement to increase their stake in the Ursa platform, located in the Gulf of Mexico. This transaction will allow Shell to increase its interest in this asset from 45.3884% to a maximum of 61.35%, following the acquisition of ConocoPhillips Company’s 15.96% stake.

A strategic investment for Shell

Zoë Yujnovich, Shell’s Integrated Gas & Upstream Director, stated that this targeted investment aims to further leverage the company’s existing upstream assets, generating strong cash flows while providing new growth opportunities.

The Ursa platform, commissioned in 1999, is located approximately 209 kilometres southeast of New Orleans in the Mars Basin, one of the world’s most prolific hydrocarbon basins. Since its launch, the Ursa/Princess field has produced over 800 million barrels of oil equivalent, ensuring stable production and offering new development prospects.

Details of the transaction

This acquisition also includes ConocoPhillips’ 15.96% stake in Ursa Oil Pipeline Company LLC, operated by Shell, as well as a 1% stake in the Europa prospect and a 3.5% royalty interest in the Ursa field. These interests were acquired by ConocoPhillips during its merger with Marathon Oil Corporation in November 2024.

ConocoPhillips adjusts its portfolio

For ConocoPhillips, this divestment aligns with its strategy of refocusing its portfolio, aiming to offload non-core assets to optimise its financial structure following the acquisition of Marathon Oil. Andy O’Brien, Senior Vice President of Strategy, Commercial, Sustainability, and Technology at ConocoPhillips, specified that this transaction contributes to the company’s goal of generating $2 billion in targeted divestitures.

The completion of this transaction remains subject to regulatory approvals, the exercise of preferential rights by other partners, and standard closing conditions. The deal is expected to be finalised by the end of the second quarter of 2025.

  • Popular on energynews.pro
Canadian Utilities secures AUC approval for Yellowhead gas pipeline project
Brazil Mobilizes $1 Billion for 65 Hydropower Plants
China: 25 GW of coal approved in H1 2025, commissioning surges
Paris and Brussels reach agreement to unlock hydroelectric investment in France
Exxon expects 20% increase in global natural gas demand by 2050
US crude oil inventories fall by 2.4 million barrels
Commercial crude oil inventories fell more than expected in the United States, while gasoline demand crossed a key threshold, offering slight support to crude prices.
Washington grants sixth sanctions extension to Serbian oil firm NIS
The United States extends a 30-day reprieve to NIS, controlled by Gazprom, as Serbia seeks to maintain energy security amid pressure on the Russian energy sector.
CNOOC Limited records 6.1% increase in production for H1 2025
With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.
Talos discovers Daenerys in the Gulf, potential addition of 50 mn boe
The Daenerys oil discovery could increase Talos Energy’s proved reserves by more than 25% and reach 65,000 barrels per day, marking a strategic shift in its Gulf of Mexico portfolio.
Trump’s administration imposes 50% tariffs on Indian exports starting Wednesday
The United States will apply 50% tariffs on Indian exports in response to New Delhi’s purchases of Russian oil, further straining trade relations between the two partners.
The global petrochemical filtration market will reach $6.76bn by 2030
Rising energy demand is driving investments in petrochemical filtration, a market growing at an average annual rate of 5.9% through 2030.
Chevron eyes Libya return after fifteen years away from the oil market
Chevron has opened talks with Libya’s National Oil Corporation on a possible return to exploration and production after leaving the country in 2010 due to unsuccessful drilling.
Canada launches consultation on offshore drilling monitoring
The Impact Assessment Agency of Canada opens public consultation on its 2024-2025 draft monitoring report for offshore oil and gas exploratory drilling off Newfoundland and Labrador.
Cenovus acquires MEG Energy for $7.9 billion in strategic deal
Cenovus Energy announces the acquisition of MEG Energy through a mixed transaction aimed at strengthening its position in oil sands while optimizing cost structure and integrated production.
Vantage Drilling extends conditional agreement for the Platinum Explorer rig
Vantage Drilling International Ltd. extends the validity of its conditional letter of award until August 29, without changes to the initial terms.
Libya’s NOC Plans Bilateral Forum with American Energy Stakeholders
Libya is preparing to host an energy forum in partnership with American companies to boost investment in its oil and gas sectors.
The United States Sanctions Greek Shipper for Iranian Oil Trafficking
Washington increases pressure on Iran’s oil sector by sanctioning a Greek shipper and its affiliates, accused of facilitating crude exports to Asia despite existing embargoes.
BOEM validates final review for 30 offshore sales in the Gulf of America
The Bureau of Ocean Energy Management formalizes a strategic environmental review, setting the framework for 30 oil sales in the Gulf of America by 2040, in line with a new federal law and current executive directives.
Hungary Seeks U.S. Support After New Disruptions on the Druzhba Pipeline
Amid repeated disruptions on the Druzhba pipeline, attributed to Ukrainian strikes, Hungary has requested U.S. support to secure its oil supply.
Aker BP quadruples estimates for Omega Alfa field in the North Sea
Norwegian producer Aker BP raises its oil potential forecast for the Omega Alfa well, part of the Yggdrasil project, with estimated resources reaching up to 134 million barrels of oil equivalent.
BP Restarts Whiting Refinery After Flooding: Regional Market Pressures Emerge
The gradual restart of BP’s Whiting refinery following severe flooding is driving price and logistics adjustments across several Midwestern U.S. states.
Moretti expected to chair Petrobras board with ministerial backing
Bruno Moretti, current special secretary to the presidency, is in pole position to lead Petrobras’ board of directors after Pietro Mendes’ resignation for a regulatory role.
Next Bridge Raises $6 Million to Fund Panther Project in Louisiana
Next Bridge Hydrocarbons completes a $6 million private debt raise to support its involvement in the Panther project while restructuring part of its existing debt.
Sinopec Shanghai Posts Half-Year Loss Amid Declining Petrochemical Demand
Sinopec Shanghai Petrochemical reported a net loss in the first half of 2025, impacted by reduced demand for fuels and chemical products, as well as declining sales volumes.
Togolese ZIH Acquires Petrogal GB with Structured Financing from Ecobank
Zener International Holding takes over Petrogal’s assets in Guinea-Bissau, backed by a $24 million structured financing deal arranged with support from Ecobank and the West African Development Bank.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.

SUBSCRIBE - €99