United States: TotalEnergies Enters 26 Chevron-Operated Offshore Exploration Blocks, Strengthening the Successful U.S. Partnership Between Both Companies

Key takeaways

• TotalEnergies expands its U.S. offshore reach by acquiring 25% of 26 Chevron‑operated leases, deepening a successful partnership that could unlock new low‑emission resources.
• 25% working interest in 26 leases
• 75% operated interest in 2 leases
• 24 blocks in Green Canyon

What happened

TotalEnergies has bought a 25% working interest in 26 Chevron‑operated offshore exploration leases in the U.S., while Chevron takes a 75% operated interest in two adjacent leases. The 26 leases sit 150‑250 km from shore, 24 in Green Canyon and 2 in Walker Ridge, targeting well‑proven plays. The deal expands TotalEnergies’ U.S. offshore portfolio and deepens its partnership with Chevron, which already holds 40 exploration blocks with TotalEnergies since June 2025.

Why it matters

The transaction gives TotalEnergies access to new high‑impact opportunities in U.S. offshore oil and gas, potentially unlocking low‑emissions resources. It also strengthens a proven collaboration that has already delivered production assets such as Ballymore, Anchor, Jack and Tahiti. The move signals confidence in…

Short-term and longer-term

Short-term. Over the next few days, traders should watch for price swings in the U.S.

Longer-term. For investors, the deal signals a long‑term commitment to U.S.