EnVen Energy to buy Shell’s Brutus, Glider assets in Gulf of Mexico

EnVen Energy Ventures LLC, an affiliate of Houston-based EnVen Energy Corp., has agreed to acquire 100% of the record title interest in Gulf of Mexico Green Canyon Blocks 114, 158, 202, and 248 from Shell Offshore Inc., an affiliate of Royal Dutch Shell PLC, for $425 million in cash.

The deal, expected to close in October, includes the Brutus tension leg platform (TLP), the Glider subsea production system, and the oil and gas lateral pipelines used to evacuate production from the TLP. The Brutus and Glider assets have a combined current production estimate of 25,000 boe/d.

Earlier this year, Shell temporarily shut in production to Brutus after an oil spill from a subsea flow line at Glider field was detected (OGJ Online, May 17, 2016).

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