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Shell acquires majority stake in ConocoPhillips' Gulf of America platform

February 25, 2025
Oil giant Shell has announced plans to increase its working interest in the Ursa platform located in the Gulf of America. The company has agreed to acquire a majority stake from ConocoPhillips for an estimated $735 million. This move comes as part of Shell's strategy to expand its presence in the Gulf region and strengthen its position in the global oil market. The Ursa platform is a key asset for both Shell and ConocoPhillips, and this deal will further strengthen their partnership. With this acquisition, Shell aims to leverage its extensive expertise in offshore drilling and production to maximize the potential of the Ursa platform and drive growth in the Gulf of America.
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