TotalEnergies Acquires Interest in 26 Chevron Offshore Leases

TotalEnergies acquired a 25% working interest in 26 exploration leases operated by Chevron Corp. located 150 to 250 kilometers offshore the United States. The deal includes 24 blocks in the Green Canyon area and two in the Walker Ridge area.

As part of a reciprocal agreement, Chevron acquired a 75% operated interest from TotalEnergies in two exploration leases adjacent to existing joint holdings. This transaction follows a previous agreement in June 2025, during which TotalEnergies acquired interests in 40 other Chevron-operated blocks.

The expansion adds to a U.S. offshore portfolio that already includes the Anchor, Jack, Tahiti, and Ballymore assets. Since 2022, TotalEnergies has invested nearly $12 billion in the United States across oil development, liquefied natural gas, and electricity. Nicola Mavilla, SVP Exploration at TotalEnergies, stated the deal provides access to high-impact opportunities to unlock low-emissions resources.