Total E&P

Transaction Type
Sellers
Post Date
Estimated Price
MM
Description

Total E&P, a subsidiary of French oil major Total SA (NYSE: TOT), is seeking a partner for a shale-gas opportunity on its operated Montelimar Permit in southeastern France. According to the company, the prospect has the potential to hold up to 85 trillion cubic feet.

Total is seeking to farm-out up to 50% interest in the permit for a technical study and two-well program. Total will retain operatorship.

The permit is awarded for three exploration phases lasting a total of five years. The first phase (until March 2012) will be focused on detailed characterization of the shales; high grading a well location; and drilling, sampling, fracing and testing a vertical well. The second and third phases will focus on drilling, fracing and testing a horizontal well to determine productivity and commerciality.

Total has 100% equity in the large Montelimar Permit (4327 square kilometers), and has already sought an extension for an additional 1,856 square kilometers to the north of the permit.