Total E&P, Shell close field swap

Total E&P USA Inc., Houston, has closed a like-kind exchange deal with Shell Exploration & Production, gaining a 17% interest in deepwater Tahiti oil field in the Gulf of Mexico.

Jan. 19, 2006

By OGJ editors
HOUSTON, Jan. 19 --Total E&P USA Inc., Houston, has closed a like-kind exchange deal with Shell Exploration & Production, gaining a 17% interest in deepwater Tahiti oil field in the Gulf of Mexico.

Shell acquired Total's operated interests in three South Texas gas fields and additional interests in a fourth field, currently operated by Shell (OGJ Online, Nov. 17, 2005).

Tahiti, operated by Chevron Corp., lies in more than 4,000 ft of water on several Green Canyon blocks. It's expected to come on line in mid-2008 at a rate of 125,000 b/d of oil and 70 MMcfd of gas.