New 25% Interest in 40 U.S. Federal Leases Bolsters TotalEnergies’ Low-Carbon Exploration Strategy

New 25% Interest in 40 U.S. Federal Leases Bolsters TotalEnergies’ Low-Carbon Exploration Strategy

(IN BRIEF) TotalEnergies has agreed to purchase a 25% interest in 40 Chevron-operated federal leases in the U.S. Outer Continental Shelf, covering about 1,000 km² across Walker Ridge, Mississippi Canyon, and East Breaks. This move expands TotalEnergies’ low-carbon, cost-efficient exploration acreage and reinforces its productive alliance with Chevron, which includes the recently started Ballymore and Anchor projects as well as the Jack and Tahiti fields. TotalEnergies plans to apply cutting-edge 3D imaging to evaluate and advance drilling prospects swiftly, tapping into the substantial untapped potential of the U.S. offshore.

(PRESS RELEASE) PARIS, 16-Jun-2025 — /EuropaWire/ — TotalEnergies is pleased to announce the acquisition of a 25% working interest in a suite of 40 federal exploration leases on the U.S. Outer Continental Shelf (OCS) from Chevron, the operator. Spanning roughly 1,000 km² and situated 175–330 km offshore, these leases comprise 13 blocks in Walker Ridge, nine in Mississippi Canyon, and 18 in East Breaks.

This transaction broadens TotalEnergies’ U.S. offshore exploration footprint, adding diverse geological plays and high-potential prospects to our portfolio. It also deepens our longstanding collaboration with Chevron, building on our joint successes in Ballymore (TotalEnergies 40%), which commenced production earlier this year; Anchor (37.14%), which came online last year; and the producing Jack (25%) and Tahiti (17%) fields.

“This acquisition aligns perfectly with our strategy of enhancing our exploration portfolio with assets that offer both low development costs and reduced emissions,” said Kevin McLachlan, Senior Vice President Exploration at TotalEnergies. “By leveraging advanced 3D seismic imaging and our proven partnership with Chevron, we aim to mature drill decisions rapidly and unlock significant additional offshore production potential in the United States.”

TotalEnergies in the United States

TotalEnergies is deploying its integrated energy model across the United States, where it has been active since 1957. Since 2022, TotalEnergies has invested nearly $11 billion in the U.S. to accelerate development in oil, LNG, and low carbon electricity. With over 10 million tons of output in 2024, TotalEnergies is the leading exporter of U.S. LNG and is integrated throughout the LNG value chain, with upstream gas production assets in Texas and offshore U.S. The U.S. is also a key country for the deployment of TotalEnergies’ Integrated Power strategy – with 10 GW of onshore utility-scale solar, wind and battery storage, installed and under construction. Find out more about TotalEnergies’ U.S. presence here.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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SOURCE: TotalEnergies