TotalEnergies has acquired a 25% working interest in 26 Chevron-operated exploration leases offshore the United States, expanding its offshore exploration portfolio and strengthening its partnership with Chevron.
As part of the transaction, Chevron has also acquired a 75% operated interest from TotalEnergies in two exploration leases adjacent to existing jointly held exploration leases.
The 26 leases are located between 150 and 250 kilometers offshore, comprising 24 blocks in the Green Canyon area and two in the Walker Ridge area, targeting well-proven exploration plays.
The transaction builds on TotalEnergies' acquisition of interests in 40 Chevron-operated exploration blocks in June 2025, further expanding the companies' joint exploration portfolio in the United States.
“This transaction with Chevron further strengthens our joint exploration portfolio in the United States. It provides TotalEnergies with access to a new set of high-impact opportunities with the potential to unlock value-accretive, low-emissions resources while leveraging the complementary strengths of both companies,” said Nicola Mavilla, SVP Exploration at TotalEnergies.
The expanded exploration portfolio complements TotalEnergies' existing interests in the producing Ballymore, Anchor, Jack and Tahiti assets offshore the United States.
TotalEnergies holds a 40% interest in Ballymore, 37.14% in Anchor, 25% in Jack and 17% in Tahiti.
TotalEnergies has been active in the United States since 1957 and has invested nearly $12 billion in the country since 2022 across oil, liquefied natural gas (LNG) and electricity development.