One-Page Deal Sheet
Shells Takes Offer From Plains for Gulf of Mexico Block Interest
Not Disclosed Not Disclosed
Announced Date
September 10,2012
Effective Date
October 01,2012
Close Date
November 30,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
560
Asset/Basin:
{"Gulf of Mexico"}
Transaction Details: Subscribe to see
Royal Dutch Shell plc announced today it has agreed to sell its 50% working interest in the Holstein Field, comprised of Green Canyon Blocks 644, 645 and 688 in the Gulf of Mexico, to Plains Exploration & Production (PXP) for approximately $560 million, subject to closing.
Shell received an unsolicited offer from PXP for Shell’s working interest. The transaction is effective October 1, 2012 and is expected to close by year-end 2012.
Holstein is a mature deepwater asset and the sale is consistent with Shell’s continuing practice of reviewing our existing portfolio and evaluating new…
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