Marubeni sells its 12.5% stake in the Big Foot deepwater oil field to ME BigFoot LLC
Type: Sale · Technology: Oil Gas · Country: United States · Announced: 2026-07-18
Marubeni sold its 12.5% working interest in the Big Foot deepwater oil field to ME BigFoot LLC, a joint venture owned by Modiin Energy (90%) and Eventide Partners (10%). The Big Foot field, located about 225 miles south of New Orleans in roughly 5,200 feet of water, has been producing 75,000 barrels of crude per day since 2018 under Chevron’s operation. Marubeni’s involvement dates back to the development stage, where it contributed to project planning and construction of the offshore platform. The divestiture aligns with Marubeni’s GC2027 strategy to free capital from mature oil assets and redirect it toward natural‑gas growth in North America. Proceeds are intended to fund natural‑gas upstream, midstream and downstream projects, including the recent acquisition of EagleRidge Energy. No financial terms were disclosed and the transaction was executed through a wholly‑owned Marubeni subsidiary.
Counterparties
- Marubeni Corporation (Seller)
- Eventide Partners (Parent Company)
- Modiin Energy (Parent Company)
- ME BigFoot LLC (Buyer)
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