EnVen Energy Ventures is an affiliate of independent oil and gas company EnVen Energy Corporation.
Under the terms of the deal, EnVen Energy will acquire the Brutus/Glider assets, which include the Brutus Tension Leg Platform (TLP), the Glider subsea production system, and the oil and gas lateral pipelines used to evacuate the production from the TLP.
Deep-water operator Shell estimates the Brutus/Glider assets to have a combined current production of approximately 25,000 barrels of oil equivalent per day (boe/d).
The sale, which is scheduled to be completed in October, is part of the company’s efforts to divest $30bn worth of assets over the next three years in a bid to reduce its debt.
In February 2016, Shell made $54bn acquisition of BG Group.
Royal Dutch Shell CFO Simon Henry was quoted by Reuters as saying in July that the company intends to divest $6bn to $8bn worth of assets by the end of this year.
The company, which currently produces approximately 600,000 boe/d, has 12 fixed structure platforms producing oil and gas in the Gulf of Mexico. It also operates six major deep-water and ultra deep-water floating platforms.
By early 2020s, Shell intends to boost its production capacity to more than 900,000 boe/d from already discovered and established reservoirs.
Image: Shell has operations in Gulf of Mexico. Photo: courtesy of MMR Group, Inc.
