Equinor completes $965 million GoM acquisition from Shell
OSLO – The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction announced in May 2019, in which Equinor exercised its preferential right to acquire 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for $965 million in cash. Equinor’s interest in the field is now 46%. Anadarko Petroleum Corporation is the operator with a 33.75% interest, and Chevron holds 20.25% interest.
In a statement, Equinor said that this transaction demonstrates Equinor’s ambition to grow and strengthens the portfolio in the US Gulf of Mexico, now producing a total of more than 130,000 boepd in the region.
Equinor has a broad portfolio in the Gulf of Mexico, with active exploration activity, equity- and operated production. In addition, Equinor has extensive US onshore operations with a total equity production of nearly 300,000 boepd.
