TotalEnergies SE mentioned Monday it has acquired a 25 % stake in a Gulf of America exploration portfolio operated by Chevron Corp.
The 40 leases in federal waters span about 1,000 sq. kilometers (386.1 sq. miles). These include 18 blocks within the East Breaks space, 13 blocks within the Walker Ridge space and 9 blocks within the Mississippi Canyon. The leases sit 175-330 kilometers (108.74-205.05 miles) from shore, based on TotalEnergies.
The acquisition bolsters “the profitable U.S. offshore collaboration with Chevron past the prevailing partnerships in Ballymore (40 % TotalEnergies) which achieved first manufacturing this 12 months, Anchor (37.14 %) the place manufacturing started-up final 12 months, and the Jack (25 %) and Tahiti (17 %) producing belongings”, the French firm mentioned in a press launch.
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TotalEnergies famous it has invested practically $11 billion within the U.S. since 2022 to speed up growth in oil, liquefied pure gasoline and low-carbon energy.
“This transaction is consistent with our constant technique of filling our Exploration portfolio with low price and low emissions choices, and can considerably develop TotalEnergies’ Offshore U.S. exploration acreage, combining a variety of geological performs and prospectivity”, mentioned Kevin McLachlan, TotalEnergies senior vice chairman for exploration.
“Constructing on the momentum of the current Ballymore and Anchor startups, we’re very happy to develop our profitable partnership with Chevron, and we anticipate to mature Exploration drill choices on these blocks using superior 3D imaging expertise to unlock massive remaining U.S. Offshore manufacturing potential”.
Ballymore is within the Mississippi Canyon within the Gulf’s deep waters. It sits roughly 160 miles southeast of New Orleans in about 6,600 ft of water, based on Chevron.
Chevron’s first growth within the Norphlet development of the Gulf, Ballymore has a capability of 75,000 barrels of oil a day. Chevron estimates probably recoverable assets to be 150 million barrels of oil equal (MMboe) over the lifetime of the challenge.
Anchor in the meantime is within the Gulf’s Inexperienced Canyon space. It’s about 140 miles from the Louisiana coast. Anchor has water depths of about 5,000 ft, based on Chevron.
The Anchor floating manufacturing unit, Chevron’s sixth operated facility producing within the U.S. Gulf, has a capability of 75,000 bopd and 28 million cubic ft per day of pure gasoline. The sphere holds an estimated 440 MMboe of whole recoverable assets, based on Chevron.
Chevron goals to develop its internet manufacturing within the U.S. Gulf to 300,000 boed by 2026.
To contact the writer, e mail jov.onsat@rigzone.com
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