Shell in Brutus and Glider Sale

Shell said it has reached an agreement to sell 100 percent of its record title interest in Gulf of Mexico Green Canyon Blocks 114, 158, 202 and 248, referred to as the Brutus/Glider assets, to EnVen Energy Corporation, through its affiliate EnVen Energy Ventures.

The Brutus/Glider assets 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.

The Glider field is the first subsea tieback to the Brutus tension leg platform. Glider consists of two wells, located in approximately 1036 meters of water, about 266 kilometers south-southwest of New Orleans.

The Brutus/Glider assets have a combined current production estimate of approximately 25,000 barrels of oil equivalent per day (boe/d).

The transaction includes $425 million in cash, and it is expected to close in October this year.

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