Active in Exploration and Production in the United States since 1957, Total E&P USA, Inc. continues to expand its U.S. business with long-term targets and opportunities.
Total E&P USA, INC (TEPUSA) strives to meet diverse technological challenges that include both conventional and unconventional oil and gas onshore and offshore operations by:
• Maximizing production, revenues and profitability of its asset portfolio
• Applying innovative, state-of-the-art technologies to explore high-potential plays and increase reserves and production
• Managing with the corporate values of the Total Group as defined in the Group Code of Conduct, including a
commitment to health, safety and the environment
• Continuously developing knowledge and skills to sustain a competitive advantage
In January 2010, Total E&P USA, Inc completed its Barnett Shale joint venture transaction with Chesapeake, acquiring a 25% interest in Chesapeake’s Barnett Shale assets. Through this venture, TEPUSA will acquire greater knowledge of the Barnett Shale and will develop expertise in unconventional hydrocarbons in order to aid the Total Group in extending its unconventional business worldwide.
• TEPUSA Ownership: 25%
• Primary Operator: Chesapeake
270,000 net acres of leasehold in the Core and Tier 1 areas of the Barnett, with approximately 4 trillion cubic feet of natural gas equivalent of proved reserves.
Around 300,000 net acres of leasehold.
At the end of the first quarter 2011, 2,008 wells were in production. Current net production after royalties of approximately 900 million cubic feet of natural gas.
TEPUSA's share of production in the Barnett is approximately 225 million cubic feet per day of natural gas (39,000 barrels of oil equivalent). TEPUSA's share of proven reserves is approximately 1 trillion cubic feet of gas (175 million barrels of oil equivalent), with significant additional potential under development.
In April 2009, TEPUSA entered into an agreement with Cobalt International Energy, L.P, forming the basis of a strategic alliance for deep water exploration in the Gulf of Mexico. Building on complementary competencies to successfully explore and develop a combined portfolio, this venture provides access to large number of prospects, mainly sub–salt, similar in nature to major discoveries in this area.
• TEPUSA Cobalt Alliance: (TEPUSA 40%, Cobalt International Energy, L.P 60%)
• The Alliance holds shared interest in more than 200 blocks and began an aggressive drilling schedule in 2009.
In the Gulf of Mexico whereTEPUSA focuses on the deepwater, TEPUSA currently participates in two major development projects.
Tahiti represents one of the largest discoveries in the Gulf of Mexico, with estimated total recoverable resources of 400 to 500 million barrels of oil and gas equivalent.
• TEPUSA Ownership: 17%
• Primary Operator: Chevron
• Start up production: May 2009
Located approximately 180 miles south of New Orleans in the Green Canyon area of the Gulf of Mexico.
In 4,100 to 4,300 feet of water, Tahiti lies below a salt canopy ranging from 8,000 to 15,000 feet thick with a primary reservoir at depths of 23,000 to 28,000 feet.
The field is being developed with a SPAR and subsea wells, including equipment and wells for water injection.
This innovative development will debut the first Floating Production Storage and Offloading vessel (FPSO) in the US Gulf of Mexico.
• Ownership: 33.33%
• Primary Operator: Petrobras
• Start up production: Expected 2011/2012
Located approximately 225 miles south of New Orleans in the Water Ridge area of the Gulf of Mexico.
In ultra deep water exceeding 8,500ft, the subsea wells will be drilled to a total depth of approximately 27,000 ft.
The nominal production capacity of the facility which will serve both the Chinook and Cascade Fields, will be up to 80,000 bopd, and gas compression capacity of 16 MM cfd.
The available crude storage capacity of the FPSO will be approximately 600,000 bbl of crude oil which will be transported to shore via a dedicated shuttle tanker.