Equinor completes acquisition of Shell's stake in Caesar Tonga field in the US Gulf of Mexico

Published by Nicholas Woodroof, Editor
Oilfield Technology, Monday, 19 August 2019 09:30

The Bureau of Ocean Energy Management has approved Equinor and Shell’s transaction announced in May 2019, whereby Equinor exercised its preferential right to acquire 22.45% interest in the Caesar Tonga oilfield from Shell Offshore Inc for a total consideration of US$965 million in cash.

Equinor’s interest in the field is now 46%.?Anadarko Petroleum Corp. is the operator with a 33.75% interest, and Chevron holds 20.25% interest.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/19082019/equinor-and-shell-complete-acquisition-of-stake-in-caesar-tonga-field-in-the-us-gulf-of-mexico/

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This article has been tagged under the following:

Upstream news Shell news Gulf of Mexico upstream news Offshore news US upstream news Oil & gas news

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