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Shell sells stake in Gulf of Mexico field for $965 million

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By Reuters
Shell sells stake in Gulf of Mexico field for $965 million
FILE PHOTO: A guard stands outside Anglo-Dutch oil major Royal Dutch Shell's first gas station in Mexico City, Mexico September 5, 2017. REUTERS/Ginnette Riquelme   -   Copyright  GINNETTE RIQUELME(Reuters)
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(Reuters) – Royal Dutch Shell has agreed to sell its stake in the Caesar-Tonga field in the Gulf of Mexico for $965 million (£737 million) in cash to a subsidiary of Israel’s Delek Group.

Company unit Shell Offshore will sell its 22.45 percent non-operated interest in a deal likely to close by the end of the third-quarter of 2019, Shell said in a statement.

(Reporting by Tanishaa Nadkar in Bengaluru; editing by Patrick Graham)

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