Shell Wraps Up Acquisition of ConocoPhillips’ Stake in Ursa Platform

Thursday, May 1, 2025
Ursa platform (Credit: Shell)

Shell Offshore and Shell Pipeline Company (SPLC), subsidiaries of Shell, have completed the previously announced agreement to increase their stake in the Ursa platform in the Gulf of America through the acquisition of working interest from ConocoPhillips.

Shell increased its stake in the Ursa platform from 45.3884% to 61.3484%, as part of the agreement first announced in February 2025.

The acquisition is part of Shell’s strategy to invest in profitable and carbon-competitive oil and gas projects with a strong integrated value chain.

Deepening Shell’s interest in existing assets also contributes to maintaining stable liquids production from its advantaged upstream business.

Shell is the operator of Ursa Tension-Leg Platform (TLP) and holds a now holds 61.3484% working interest ownership in the asset with BP Exploration & Production (22.6916%) and ECP GOM III (15.96%).

The transaction also includes the following from ConocoPhillips - 11.81% membership interest in the Shell-operated Ursa Oil Pipeline Company, which will be held by SPLC.

The agreement has been adjusted following preferential rights election by partners, bringing Shell’s working interest in the Ursa pipeline from 45.39% to 57.20%.

It also includes 1% working interest in the Europa prospect, also operated by Shell, and 3.5% Overriding Royalty Interest (ORRI) in Ursa.

Categories: Industry News Activity North America Gulf of Mexico Oil and Gas Gulf of America

Related Stories

Iran’s Top Security Body to Weigh In on Strait of Hormuz Closure

Iran’s Top Security Body to Weigh In on Strait of Hormuz Closure

Gimi FLNG Starts Commercial Ops at BP’s GTA Project off Western Africa

Gimi FLNG Starts Commercial Ops at BP’s GTA Project off Western Africa

ExxonMobil Hires EnerMech for Decom Job in Gulf of America

ExxonMobil Hires EnerMech for Decom Job in Gulf of America

Current News

Iran’s Top Security Body to Weigh In on Strait of Hormuz Closure

Gimi FLNG Starts Commercial Ops at BP’s GTA Project off Western Africa

Aibel to Provide Maintenance Services for Two Vår Energi’s Oil and Gas Fields

MDL Assists Saipem to Deliver Offshore Campaigns in West Africa

Subscribe for OE Digital E‑News

Offshore Engineer Magazine