Shell Acquires Full Working Interest in Gulf of Mexico Kaikias Field
December 13 2023 - 4:26PM
Dow Jones News
By Ben Glickman
Shell Offshore, a subsidiary of Shell, acquired the remaining
20% working interest in a Gulf-of-Mexico field it doesn't currently
own.
The oil-and-gas giant now has 100% working interest in the
Kaikias field in the U.S. Gulf of Mexico and remains the
operator.
The field is owned by MOEX North America, a full subsidiary of
Mitsui & Co.
"By increasing Shell's working interest in the field, we are
creating options for our future as the leading producer in the U.S.
Gulf of Mexico," said Rich Howe, executive vice president for deep
water.
The company said Shell and MOEX would submit for federal
regulatory approval.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
December 13, 2023 17:11 ET (22:11 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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