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ConocoPhillips to sell interest in Ursa and Europa Fields to Shell for $735 million

Summary by WTVB
(Reuters) – ConocoPhillips said on Friday it would sell its interests in the Ursa and Europa Fields to Shell for $735 million. The transaction is expected to close by the end of the second quarter of 2025. “This transaction reflects our ongoing commitment to further strengthen our portfolio by divesting non-core assets and shows significant progress toward our $2 billion disposition target,” the company said. The assets being sold currently prod…

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ConocoPhillips to sell interest in Ursa and Europa Fields to Shell for $735 million

(Reuters) – ConocoPhillips said on Friday it would sell its interests in the Ursa and Europa Fields to Shell for $735 million. The transaction is expected to close by the end of the second quarter of 2025. “This transaction reflects our ongoing commitment to further strengthen our portfolio by divesting non-core assets and shows significant progress toward our $2 billion disposition target,” the company said. The assets being sold currently prod…

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poteaudailynews.compoteaudailynews.com
+12 Reposted by 12 other sources

Shell to grow working interest in the Ursa platform in Gulf of America

HOUSTON, Feb. 21, 2025 /PRNewswire/ -- Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell plc (Shell), have signed an agreement to increase their stake in the Ursa platform in the Gulf of America. This will increase Shell's…

·Poteau, United States
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Royal Dutch Shell Plc .comRoyal Dutch Shell Plc .com

Shell Buys More Oil Fields: Because Who Needs a Planet Anyway?

Shell. You’ve done it again—bought more of the problem while pretending to be part of the solution. In the latest episode of “Shell Expands Its Empire of Environmental Destruction,” ConocoPhillips has announced it will be offloading its interests in the Ursa and Europa Fields to—wait for it—Shell, for the bargain price of $735 million. Because nothing says “streamlining” quite like selling off oil fields to one of the most notorious polluters on…

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Energy News for the United States Oil & Gas Industry | EnergyNow.comEnergy News for the United States Oil & Gas Industry | EnergyNow.com

Shell to Grow Working Interest in the Ursa Platform in Gulf of America - Energy News, Top Headlines, Commentaries, Features & Events

HOUSTON, Feb. 21, 2025 /CNW/ — Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell plc (Shell), have signed an agreement to increase their stake in the Ursa platform in the Gulf of America. This will increase Shell’s working interest (WI) in its operated Ursa platform, pipeline, and associated fields from 45.3884% to a maximum of 61.35%, ...

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Oil & Gas 360Oil & Gas 360

ConocoPhillips to sell interest in Gulf of Mexico assets to Shell for $735 million – Oil & Gas 360

(World Oil) – ConocoPhillips will sell its interests in the Gulf of Mexico Ursa and Europa fields to Shell for $735 million, both companies confirmed today. ConocoPhillips continues to work towards a strategy of divesting noncore assets, while Shell looks to strengthen its deepwater portfolio. Full-year 2024 production associated with the ConocoPhillips’ 15.96% interest in the Ursa Field and 1% interest in the Europa Field was approximately 8,000

·Denver, United States
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citybizcitybiz

ConocoPhillips to Sell Interest in Ursa and Europa Fields

HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today announced it has entered into an agreement to sell its interests in the Ursa and Europa Fields and Ursa Oil Pipeline Company LLC to Shell Offshore Inc. and Shell Pipeline Company LP, subsidiaries of Shell plc, for $735 million subject to customary closing adjustments. The transaction also includes an overriding royalty interest in the Ursa Field. Proceeds from this transaction will be used…

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Marshall News Messenger broke the news in on Friday, February 21, 2025.
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