TotalEnergies Expands Gulf of Mexico Portfolio

TotalEnergies has acquired a 25% working interest in 40 offshore exploration blocks from Chevron in the U.S. Gulf of Mexico, with the federal Outer Continental Shelf leases located 175-330 kilometers from shore across the East Breaks, Walker Ridge, and Mississippi Canyon areas. This acquisition strengthens their strategic partnership and builds on previous collaborations in Ballymore, Anchor, Jack, and Tahiti projects. TotalEnergies plans to use advanced 3D imaging technology to inform drilling decisions and focus on low-cost, low-emission exploration. Since 2022, the company has invested nearly $11 billion in the U.S. across oil, LNG, and low-carbon power. In 2024, TotalEnergies became the leading exporter of U.S. LNG, delivering over 10 million tons. Financial terms of the acquisition were not disclosed.