USA: Total Further Increases Its Footprint In The Gulf Of Mexico And Becomes Operator Of The North Platte Discovery
Wednesday 11 April 2018
Total has acquired several assets located in the Gulf of Mexico as part of the Cobalt International Energy company’s bankruptcy auction sale. Total submitted offers on several assets for a consideration of approximately 300 million dollars and acquires from Cobalt:
- A 20% interest in the North Platte discovery. As a result, Total increases its interest to 60% and becomes operator of this discovery. Total will have Statoil as a partner, who acquired the remaining 40%.
- A 20% interest in the Anchor discovery. As a result, Total increases its interest to 32.5%, after having acquired 12.5% last December. This discovery is operated by Chevron.
- 13 offshore exploration blocks, which will be operated by Total.
On April 5, 2018, the United States Bankruptcy Court approved these results.