TotalEnergies SE (NYSE:TOT, EPA:TTE) announced it has acquired a portfolio of interests in Chevron-operated leases in the US offshore.
In a statement, TotalEnergies described the 40 leases as being in the ‘outer continental shelf’ spanning an area of 1,000 square kilometres, in the Walker Ridge, Mississippi Canyon, and East Breaks areas.
For clarity, these are in the region that the United States now refers to as the Gulf of America.
Paris-headquartered TotalEnergies picks up 25% of each lease.
“This transaction is in line with our consistent strategy of filling our Exploration portfolio with low-cost and low-emissions options, and will significantly expand TotalEnergies’ Offshore US exploration acreage, combining a wide range of geological plays and prospectivity,” TotalEnergies senior SVP for exploration Kevin McLachlan said.
“We are very pleased to expand our successful partnership with Chevron, and we expect to mature exploration drill decisions on these blocks utilising advanced 3D imaging technology to unlock large remaining US Offshore production potential.”