Shell Sells Interest in GofM Holstein Field

Press Release
Monday, September 10, 2012

Shell accepts US$560-million  offer from Plains Exploration & Production (PXP  for working interest in Gulf of Mexico Holstein asset.

Shell received an unsolicited offer from PXP for Shell’s working interest. The transaction is effective October 1, 2012 and is expected to close by year-end 2012.

Holstein is a mature deepwater asset and the sale is consistent with Shell’s continuing practice of reviewing our existing portfolio and evaluating new opportunities.

The Holstein Unit is centered on a spar platform anchored in 1350 meters (4400 feet) water depth and first produced in December 2004. Shell’s 50% interest represents about two percent of the company’s overall Gulf of Mexico net production and had a 30-day net average production of 7.4 kboe/d prior to Hurricane Isaac.

Shell retains a major Gulf of Mexico presence and is a leading deepwater producer. The company recently noted three successful appraisal wells at the Appomattox and Vito fields, which are expected to begin producing in the second half of the decade.

NB. Shell holds 50% interest in Holstein. BP (operator) holds the remaining 50%.



 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

National Domestic Surveyor Accreditation in place

Domestic marine surveyors will now be accredited under a national system run by the Australian Maritime Safety Authority (AMSA). The Domestic Surveyor Accreditation

Australian Tall Ship Rounds Cape Horn

The Royal Australian Navy operated Sail Training Ship Young Endeavour rounded Cape Horn on Australia Day, 36 days into a 12-month circumnavigation of the world.

USCG Rescue 2 on Bahamian Island

Two stranded men are safe after the Coast Guard rescued them off an Island in the Bahamas Tuesday afternoon. Coast Guard 7th District watchstanders received

Offshore

Fender Repairs Works for Dolphins at Hong Kong

For approximately four months, fender repairing and replacement works for five of the dolphins will be carried out in the To Kwa Wan Typhoon Shelter. The

Wärtsilä Propulsion Solution for 3 Tugs

Three large new escort tugs contracted by Norwegian operator Østensjø Rederi, will feature Wärtsilä dual-fuel (DF) engines integrated with a customized gas storage

Russia – Turkey Gas Pipeline Approved

Ankara hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Turkish Minister of Energy and Natural Resources.

Finance

MOL, Mitsui Ink Charter Deal

Mitsui O.S.K. Lines, Ltd. signed a contract with Mitsui & Co., Ltd. today (January 29) to charter a new 177,000m3 liquefied natural gas (LNG) carrier. This

A HERO on the Seas

The expansion of the Panama Canal has opened up an opportunity for WWL to develop its next generation RoRo carriers. Due to its importance to international trade,

Fender Repairs Works for Dolphins at Hong Kong

For approximately four months, fender repairing and replacement works for five of the dolphins will be carried out in the To Kwa Wan Typhoon Shelter. The

Energy

Directorate Changes at Fastnet

Fastnet, the UK and Irish listed E&P company focused on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, announces certain management

MOL, Mitsui Ink Charter Deal

Mitsui O.S.K. Lines, Ltd. signed a contract with Mitsui & Co., Ltd. today (January 29) to charter a new 177,000m3 liquefied natural gas (LNG) carrier. This

MHI Wins LNG Order

Mitsubishi Heavy Industries, Ltd. (MHI) has received an order for two next-generation LNG (liquefied natural gas) carriers from Mitsui & Co., Ltd. The carriers

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1872 sec (5 req/sec)