Market Chatter: Shell Reportedly in Talks to Sell $1.3 Bln of Gulf of Mexico Assets to Focus Oil

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Royal Dutch Shell (RDS.A, RDS.B) is locked in negotiations with Focus Oil for the sale of its stake in the Caesar Tonga field in the Green Canyon area of the Gulf of Mexico, Bloomberg News reported, citing sources.

The Anglo-Dutch oil major has a 22.5% stake in the Caesar Tonga complex. The potential transaction could value the company's working interest in the field at approximately $1.3 billion, sources familiar with the matter said.

The deal could help Shell in its bid to unload mature assets to free up cash for shareholder returns, boost growth, and pay for its over $50 billion takeover of BG Group two years ago, Bloomberg News said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , ETFs
Referenced Symbols: RDS.A , RDS.B , RDS/B

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