TotalEnergies SE has signed an agreement to acquire a 49 percent stake in natural gas-producing assets operated by Continental Resources Inc on Oklahoma’s side of the Anadarko basin. The oil company recently revealed that the purchase will help it to guarantee a sustainable level of gas production.
In a press statement issued via its website, the oil firm disclosed that buying non-operated shale gas assets goes a long way towards complementing the Dorado and Constellation acquisitions completed in 2024 in the Eagle Ford Basin.
TotalEnergies stated that it also operates a production of around 500 million standard cubic feet a day in the Barnett shale play in Texas.
“These assets have the potential to reach a gross production of around 350 MMscfd by 2030 and to sustain this production level over the long term. They will enable TotalEnergies to secure a net gas production of around 150 MMscfd.
This acquisition of low-cost and long-plateau assets, well connected to Henry Hub through existing midstream infrastructure, further strengthens TotalEnergies’ integration across the liquefied natural gas value chain in the U.S.
This acquisition of non-operated shale gas assets complements the Dorado and Constellation acquisitions completed in 2024 in the Eagle Ford Basin,” it read.
In 2024, TotalEnergies executed 2 Eagle Ford transactions with Lewis Energy Group LP.
The company is planning to use its share of production from both acquisitions, which consisted of non-operating interests, to produce Cameron liquefied natural gas (LNG) plant in Louisiana, in which it owns a 16.6 percent stake.
Recall that TotalEnergies recently announced that it had signed agreements with NextDecade Corp, raising its stake in Rio Grande LNG in Brownsville, Texas.
The company added that it is the biggest exporter of U.S. LNG, with more than 10 million metric tons exported from the country last year.
Folami David is a dynamic journalist who views the world through an analytical lens, translating complex narratives across multiple industries into compelling stories. With an insatiable appetite for information and a keen eye for emerging trends, Folami specializes in uncovering the interconnections between technology, business, culture, and society.
