Our E&P Partners
Chesapeake Energy Corporation
In 2009, Total E&P USA, Inc entered into unconventional shale development through a joint venture transaction with Chesapeake Exploration, L.L.C., a subsidiary of Chesapeake Energy Corporation ("Chesapeake"), acquiring a 25% interest in Chesapeake's Barnett Shale assets. In November 2011, TEP USA completed a second joint venture agreement with Chesapeake (and affiliates of its partner EnerVest Ltd) in which TEP USA acquired a 25% share in Chesapeake and EnerVest's liquids-rich area of the Utica shale.
Cobalt International Energy
In 2009, TEP USA entered into an agreement with Cobalt International Energy, L.P., forming the basis of a strategic alliance for deep water exploration in the Gulf of Mexico. Building on complementary competencies to successfully explore and develop a combined portfolio, this venture provides access to large number of prospects, mainly sub-salt, similar in nature to major discoveries in this area.
TEP USA owns a 40% working interest in the 2012 North Platte discovery. Cobalt is the operator and owns the remaining 60%. North Platte was discovered by the Cobalt-TEP USA alliance and is currently in the appraisal stage.
TEP USA owns a 17% working interest in the Tahiti field. Chevron is the operator with a 58% interest. The remaining 25% is owned by Statoil. The Tahiti field was discovered in 2002 and consists of five blocks in the deepwater Gulf of Mexico: Green Canyon 596, 597, 640, 641 and 684.
TEP USA owns a 33.33% working interest in the Chinook field. Petrobras is the operator and owns the remaining 66.67%. Chinook was discovered in 2003 and consists of four blocks in the deepwater Gulf of Mexico: Walker Ridge 425, 426, 469 and 470. Located approximately 225 miles south of New Orleans, in ultra deep water exceeding 8,500 ft, the subsea wells were drilled to a total depth of approximately 27,000 ft (Lower Tertiary formation). This innovative development introduced the first Floating Production Storage and Offloading vessel (FPSO) to the US Gulf of Mexico.