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Friday 13 April 2018

Total buys Gulf of Mexico assets in Cobalt bankruptcy auction




Total SA has acquired several assets located in the Gulf of Mexico as part of the Cobalt International Energy company’s bankruptcy auction sale. Total submitted offers on several assets for a consideration of approximately 300 million dollars and acquires from Cobalt: 
  • A 20 percent interest in the North Platte discovery. As a result, Total increases its interest to 60 percent and becomes operator of this discovery. Total will have Statoil as a partner, who acquired the remaining 40 percent.
  • A 20 percent interest in the Anchor discovery. As a result, Total increases its interest to 32.5 percent, after having acquired 12.5 percent last December. This discovery is operated by Chevron.

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