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Total Expands in Deepwater Gulf of Mexico with Acquisition of Samson Offshore

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January 25, 2018

By Leo Francini / Shutterstock

French energy giant Total is expanding its footprint in the U.S. deepwater Gulf of Mexico market with an agreement to acquire Samson Offshore Anchor, which holds a stake in four offshore blocks covering the Anchor discovery – one of the most significant finds in the GoM in recent years.

Samson Offshore Anchor, a subsidiary of US-based Samson Energy Company, holds 12.5% interest in the four blocks. The deal also includes a 12.5% interest in the nearby exploration block Green Canyon 761, where Total already has a 25% interest.

“The entry in the Anchor discovery further increases Total’s footprint in deepwater Gulf of Mexico. It follows our entry in seven exploration prospects located in the promising Wilcox (Central GoM) and Norphlet (Eastern GoM) plays thanks to an agreement signed with Chevron last September, and in the Jack field where the Group will acquire a 25% interest as part of the Maersk Oil deal”, stated Arnaud Breuillac, President Exploration & Production at Total.

Discovered in the Wilcox play in 2014, Anchor is located approximately 225 kilometers off the coast of Louisiana in more than 1,500 meters of water. Additional prospective resources have also been identified in the vicinity of the Anchor field.

Anchor is operated by Chevron (55%) alongside Cobalt (20%), and Venari (12.5%).

In the Gulf of Mexico, Total participates in two producing deepwater fields: Tahiti with 17%, operated by Chevron, and Chinook with 33.33%, operated by Petrobras. Total also holds a 40% stake in North Platte discovery, operated by Cobalt International Energy. In addition, as part of the acquisition of Maersk Oil company, Total will also become a 25% partner in the Chevron-operated Jack field.

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