Shell to sell stake in Gulf of Mexico asset for nearly $1B

Shell Offshore Inc., a subsidiary of the Netherlands-based Royal Dutch Shell PLC (NYSE: RDS-A, RDS-B), has reached a $965 million deal to sell its stake in a Gulf of Mexico field. 

Delek CT Investment LLC, a subsidiary of Israel-based Delek Group Ltd., will buy Shell’s 22.45 percent non-operated interest in the Caesar-Tonga asset, according to an April 11 press release. The deal is expected to close in the third quarter. 

Caesar-Tonga is located approximately 190 miles south-southwest from…

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