TotalEnergies announced on October 28, 2026, that it has acquired a 25% working interest in 26 Chevron-operated exploration leases offshore the United States.

Deal Overview

As part of the same transaction, Chevron has acquired from TotalEnergies a 75% operated interest in two exploration leases adjacent to existing jointly held exploration leases.

The 26 leases are located 150 to 250 kilometers from shore. Of these, 24 blocks are situated in the Green Canyon area, and 2 blocks are in the Walker Ridge area. According to the company, the leases target well-proven plays.

Building on an Existing Partnership

The transaction expands TotalEnergies' U.S. offshore exploration portfolio and builds on the company's entry into 40 Chevron-operated exploration blocks in June 2025.

With this latest acquisition, the combined portfolio provides access to multiple exploration plays and prospects.

The expanded exploration portfolio also complements TotalEnergies' existing interests in producing U.S. offshore assets, in which the company holds a 40% interest in Ballymore, 37.14% in Anchor, 25% in Jack, and 17% in Tahiti.

Company Statement

"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.

TotalEnergies' Broader US Footprint

TotalEnergies has been active in the United States since 1957 and is deploying its integrated energy model across the country. Since 2022, the company has invested nearly USD 12 billion in the U.S. to accelerate development in oil, LNG, and electricity.

The company is integrated throughout the LNG value chain, with upstream gas production assets in Texas and offshore the United States. With 19 million tons exported in 2025, TotalEnergies describes itself as the number 1 exporter of U.S. LNG. The U.S. is also a key country for the deployment of TotalEnergies' Integrated Power strategy, where the company holds 10 GW of installed power capacity.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energy including oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. The company has more than 100,000 employees and is active in about 120 countries.

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