{
  "id": 210945,
  "title": "Navitas broadens its US Gulf portfolio with stakes in two oil discoveries, oil industry media",
  "url": "https://urgent.news/2026/08/06/navitas-broadens-its-us-gulf-portfolio-with-stakes-in-two-oil",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-06T08:18:00.000Z",
  "source": {
    "name": "MercoPress",
    "slug": "mercopress",
    "url": "https://en.mercopress.com/2026/08/06/navitas-broadens-its-us-gulf-portfolio-with-stakes-in-two-oil-discoveries-oil-industry-media"
  },
  "original_language": "en",
  "account": "Navitas Petroleum has expanded its Gulf of America oil portfolio by acquiring a 33.33% stake in the Tiberius and Logan oil discoveries from Occidental and Kosmos Energy. This acquisition aligns with Navitas' strategy of investing in discovered oil and gas resources with potential for short development timelines. The Tiberius discovery, made in 2023, and the Logan discovery, discovered in 2011, are expected to be developed using an Oxy-operated Lucius spar-type floating production platform. Tiberius, located in Keathley Canyon Block 964, encountered 75 meters of net oil pay in the primary Wilcox reservoir, while Kosmos' Tiberius secured a green light to move forward with a subsea tie-back development after receiving a final investment decision (FID) in March 2026. This marks Navitas' first collaboration with Occidental and Kosmos Energy, further strengthening its network of strategic relationships in the Gulf of America.",
  "summary": "Navitas Petroleum has signed agreements to obtain a 33.33% interest in the Tiberius and Logan oil discoveries in the Gulf of America (Gulf of Mexico) from Occidental and Kosmos Energy, expanding its Gulf of America hydrocarbon portfolio.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}