Shell plc (LSE : SHEL) agreed to acquire 51% stake in North Platte Deep Water Development Project from Equinor ASA (OB : EQNR) on June 29, 2022. Equinor will retain 49% interest in the project, and Shell will become the new operator of the field. Equinor and Shell have agreed to rename the North Platte development to the Sparta development.

The transaction is subject to customary conditions and authority approval.