By OGJ editors
HOUSTON, Nov. 17 -- Shell Exploration & Production and Total E&P USA have agreed to an in-kind exchange. Shell will exchange its 17% nonoperated interest in deepwater Tahiti field in the Gulf of Mexico for Total's interests in natural gas assets in South Texas.
Tahiti field, operated by Chevron Corp., lies on Green Canyon Blocks 596, 597, 640, and 641 in 4,100 ft of water, 190 miles southwest of New Orleans.
Shell, in turn will acquire Total's operated interests in three natural gas fields and additional interests in a fourth field, currently operated by Shell. These fields increase Shell's net South Texas gas production by 193 MMcfd of gas equivalent to 300 MMcfed.
The transaction is expected to close in January.
