Shell Acquires Full Working Interest in Gulf of Mexico Kaikias Field
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.-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
10 Top-Performing Dividend Stocks of the Month
-
Marathon Petroleum Earnings: No Change to Competitive Position, but Shares Look Expensive
-
Charlie Munger and How Not to Invest
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
After Earnings, Is AT&T Stock a Buy, a Sell, or Fairly Valued?
-
Mastercard Earnings: A Stable Environment Highlights the Firm’s Strengths
-
Pfizer Earnings: Solid Results Supported by Steady Tracking Toward $4 Billion In Cost Cuts
-
Starbucks Earnings: Not a Lot to Like About Results as Global Traffic Sputters