Arabian Pipes Co. (SASE:2200) secured a contract worth 133 million Saudi riyals from Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.
The nine-month deal covers the production and delivery of steel pipes, the steel tube manufacturer said Wednesday.
Shell (SHEL.L, SHELL.AS) entered into a $1.7 billion agreement for the sale of its 50% non-operated interest in the Na Kika platform and associated fields in the Gulf of America, as well as 100% of the Coulomb tieback.Through its Shell Offshore subsidiary, the oil and gas company is selling the interests to units of Talos Energy and Ridgewood Energy, according to a Tuesday release. The buyers will assume certain decommissioning responsibilities and security provisions as part of the deal.Na Kika is Shell's only non-operated asset in the Gulf of America. BP (BP.L), as co-owner and operator of the semi-submersible platform, has preferential rights to acquire Shell's interest within 30 days at the terms agreed with Talos and Ridgewood.The deal will take effect on Wednesday, with closing expected by the end of 2026, subject to regulatory approvals. The seller said its Shell Trading US Co. will retain offtake rights from the assets for sale through separate negotiated agreements with the buyers.
ConocoPhillips (COP) filed a registration statement Tuesday for the sale of securities from time to time.The filing covers subordinated debt securities, common and preferred stock, warrants, depository shares, stock purchase contracts or units, and prepaid stock purchase contracts, the filing said.Net proceeds from the sale of the securities will be used for general corporate purposes.
Talos Energy (TALO) on Tuesday agreed to jointly acquire deepwater assets in the Gulf of America from Shell Offshore (SHEL), alongside an affiliate of Ridgewood Energy, for $850 million in cash, with Talos expecting its net consideration to be approximately $450 million to $500 million after estimated interim cash flows from the assets.The acquired interests include a 50% working interest and operatorship in the Coulomb field and a 25% non-operated stake in the BP-operated Na Kika platform and four associated fields, the company said.Talos plans to fund the deal through cash on hand and debt, and has secured $150 million in incremental lender commitments, raising its borrowing base to $850 million from $700 million upon closing. The deal is expected to close by year-end 2026, according to the company.