French integrated oil company Total SA said Wednesday its subsidiary Total E&P USA Inc.
French integrated oil company Total SA said Wednesday its U.S. subsidiary Total E&P USA Inc. has bought a 30 percent stake in several onshore Alaskan exploration locations from the U.S. oil major Chevron Corp.
Financial terms of the deal weren't disclosed.
Chevron has 70 percent ownership in the region, known as White Hills.
Total said exploration in the region has already started. The company has three wells planned for this year and an unspecified number to be built next year.
In premarket trading, Total shares fell $1.06 to $73.72, after closing at $74.78 on Tuesday.