TotalEnergies buys 25% in 26 Chevron-run US offshore leases
France's TotalEnergies acquired a 25% working interest in 26 offshore exploration leases run by Chevron in the US, Reuters reported.
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what happened
French oil major TotalEnergies said on Wednesday it had acquired a 25% working interest in 26 offshore exploration leases in the United States that are operated by Chevron. The value of the deal was not disclosed.
As part of the same transaction, Chevron took a 75% operating interest in two adjacent exploration leases previously held by TotalEnergies. The information comes from a company statement, as reported by Reuters.
why it matters
The deal is unlikely to move the oil market noticeably, since the future output and the price of the stake were not disclosed. Still, it shows major players continuing to reshuffle interests in the US offshore shelf, where exploration could eventually add new resources.
market impact
TotalEnergies and Chevron: stake reshuffle on the US shelf, with no disclosed value
tags
instruments
sources
- TotalEnergies buys 25% stake in Chevron-run US offshore leases — Reuters, 28 October 2026 at 07:16 UTC
- TotalEnergies acquires 25% stake in 26 Chevron U.S. offshore leases — Seeking Alpha, 28 October 2026 at 07:33 UTC
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