PARIS – In a move that underscores its commitment to bolstering its U.S. offshore presence, TotalEnergies (TTE) has announced the acquisition of a 25% working interest in a portfolio of exploration leases from Chevron, the operator.
The deal encompasses 40 Outer Continental Shelf (OCS) federal leases. These leases cover approximately 1,000 square kilometers, situated between 175 to 330 kilometers from the U.S. coast. The portfolio includes 13 blocks in the Walker Ridge area, 9 blocks in the Mississippi Canyon area, and 18 blocks in the East Breaks area. This provides TotalEnergies with access to a range of offshore exploration prospects.
This transaction is another step in strengthening the company’s collaborative efforts with Chevron in the U.S. offshore sector. This partnership already includes existing projects like the Ballymore project (40% TotalEnergies), which commenced production earlier this year, as well as the Anchor project (37.14% interest) and the Jack (25%) and Tahiti (17%) producing assets, where production started in the recent years.
“This transaction aligns with our strategic focus to enrich our Exploration portfolio with cost-effective and low-emission projects. Additionally, this will expand TotalEnergies’ Offshore U.S. exploration acreage, encompassing various geological plays and promising prospects,” said Kevin McLachlan, Senior Vice- President, Exploration. “We’re excited to build on the momentum of recent project startups and continue our partnership with Chevron. We anticipate utilizing advanced 3D imaging technology to make exploration drill decisions on these blocks, unlocking significant remaining U.S. Offshore production potential.”
TotalEnergies in the United States
TotalEnergies is executing its integrated energy strategy in the U.S., where it has been operating since 1957. Since 2022, the company has channeled nearly $11 billion into developing its oil, LNG, and low-carbon electricity ventures in the U.S. TotalEnergies is the leading exporter of U.S. LNG with over 10 million tons of output in 2024, and it is integrated across the whole LNG value chain, with upstream gas production assets in Texas and offshore U.S. The U.S. is also a key region for TotalEnergies Integrated Power strategy – with a capacity of 10 GW in solar, wind, and battery storage projects.
About TotalEnergies
TotalEnergies is a global energy company that produces and markets energies: oil and biofuels, natural gas, biogas, low-carbon hydrogen, renewables, and electricity. The company’s more than 100,000 employees are committed to offering energy that is more reliable, affordable, and sustainable to as many people as possible. Operating in around 120 countries, TotalEnergies places sustainability at the center of its strategies, projects, and operations.
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