Equinor claims Shell’s Caesar Tonga stake

Equinor said it will increase its interest in deepwater Caesar Tonga oil field in the Gulf of Mexico to 46% by exercising a preferential right to acquire Shell Offshore Inc.’s 22.45% interest for $965 million.

May 13th, 2019

Equinor said it will increase its interest in deepwater Caesar Tonga oil field in the Gulf of Mexico to 46% by exercising a preferential right to acquire Shell Offshore Inc.’s 22.45% interest for $965 million.

Shell earlier agreed to sell the interest to Delek Group for the same amount (OGJ Online, Apr. 11, 2019).

The field produces 70,000 b/d of oil and natural gas, 90% oil. It’s in 4,900 ft of water in the Green Canyon area 190 miles south-southwest of New Orleans.

Anadarko Petroleum Corp., which is to be acquired by Occidental Petroleum Corp., is operator with a 33.75% interest. Chevron USA Inc. holds 20.25%.

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