Who is the buyer of Marubeni's Big Foot stake?

The buyer is Israel's Modiin Energy.

What stake did Marubeni sell in the Big Foot field?

Marubeni sold a 12.5% stake in the field.

Where is the Big Foot oil field located?

The field is located about 360 km south of New Orleans, Louisiana, in the Gulf of Mexico, at a water depth of approximately 1,600 meters.

Who operates the Big Foot field?

The Big Foot field is operated by Chevron Corporation (ticker: CVX).

Marubeni Sells 12.5% Big Foot Stake to Modiin Energy

Marubeni Corporation has sold its 12.5% stake in the Big Foot oil field in the Gulf of Mexico to Israel's Modiin Energy. The financial terms were not disclosed, and the transaction is subject to regulatory approvals.

July 9, 2026

2 min read

Source: Offshore Technology

Key Numbers

stake percentage

12.5%

Marubeni Corporation has agreed to sell its 12.5% stake in the Big Foot oil field in the Gulf of Mexico to Israel's Modiin Energy, as reported by Offshore Technology. The deal's value has not been disclosed and is subject to regulatory approvals.

Deal Details

Seller: Marubeni Corporation
Buyer: Modiin Energy
Stake Sold: 12.5%
Asset: Big Foot oil field
Location: Approximately 360 km south of New Orleans, Louisiana, USA
Water Depth: About 1,600 meters
Value: Not disclosed
Status: Pending regulatory approvals

Context

The Big Foot field is a deepwater oil project in the Gulf of Mexico, operated by Chevron Corporation (CVX), which holds the largest stake. This sale aligns with Marubeni's strategy to streamline its portfolio and focus on other assets.

What This Means for Investors

The transaction highlights ongoing M&A activity in the Gulf of Mexico. For Chevron investors, the impact is likely minimal given the small stake. However, Modiin Energy's entry could alter the partnership dynamics.

Frequently Asked Questions

The financial terms of the deal have not been disclosed.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.