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TotalEnergies said on Monday that 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 (LNG) value chain in the US.”
Also, the French firm further expands its natural gas production in the US.
TotalEnergies did not provide the pricing details of the deal.
According to TotalEnergies, 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 non-operated shale gas assets complements the Dorado and Constellation acquisitions completed in 2024 in the Eagle Ford Basin.
In addition, TotalEnergies operates a technical production of around 500 MMscfd in the Barnett.
“This acquisition will further increase our natural gas production in the United States and consolidate TotalEnergies’ integrated LNG position with a competitive low-cost and low-emission gas production”, said Nicolas Terraz, president, exploration and production at TotalEnergies.
“We are delighted to partner with Continental Resources, a reference operator in the Anadarko Basin, recognized for its strong technical expertise and operational excellence,” Terraz said.
TotalEnergies says it is the world’s third-largest LNG player with a global portfolio of 40 Mt/y in 2024 thanks to its interests in liquefaction plants in all geographies.
The company benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 Mt/y of regasification capacity in Europe, trading, and LNG bunkering.
TotalEnergies’ ambition is to increase the share of natural gas in its sales mix to close to 50 percent by 2030.
