U.S.A.: TotalEnergies Enhances Gas Value Chain Integration by Acquiring Producing Assets in the Eagle Ford Basin
September 27 2024 - 1:13AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an
agreement with Lewis Energy Group to acquire a 45% interest in dry
gas producing assets owned and operated by Lewis Energy Group in
the Eagle Ford basin in Texas. The acquisition of these low cost
and long plateau assets further strengthens TotalEnergies’
integration across the gas value chain in the US, and follows the
Texas Dorado acquisition announced in April 2024.
TotalEnergies further expands its natural gas production in
the U.S.
Located in Southwest Texas, the acquired assets have the
potential to be developed to reach a sustainable gross production
of around 400 Mcf/d by 2028.
This is the second acquisition of non-operated shale gas assets
in 2024 after the purchase of non-operated interest in the Dorado
asset, located in the Eagle Ford basin and which was purchased from
Lewis Energy Group earlier this year. Moreover, TotalEnergies
operates a technical production of around 500 Mcf/d in the
Barnett.
TotalEnergies, the largest exporter of U.S. LNG
With over 10 million tons (Mt) exported in 2023, TotalEnergies
is the largest exporter of U.S. LNG, thanks to its 16.6% stake in
the Cameron LNG plant in Louisiana and several long-term purchasing
agreements. The Company’s U.S. LNG export capacity is expected to
reach 15 Mt/y by 2030.
“This acquisition further strengthens our upstream gas position
in the United States and contributes to our integrated LNG position
with a low cost upstream gas supply”, said Nicolas Terraz,
President, Exploration & Production at TotalEnergies. “We
are delighted to partner with Lewis Energy Group, a well-renowned
and highly efficient gas operator with an historical footprint in
South Texas.”
TotalEnergies in the United States
TotalEnergies is deploying its integrated energy model across
the United States, where it has been active since 1957. With over
10 Mt of output in 2023, TotalEnergies is the leading exporter of
U.S. LNG, and plans to increase its capacity to 15 Mt/y after the
start-up of the Rio Grande LNG plant in South Texas. The Company is
integrated throughout the LNG value chain, with upstream gas
production assets in Texas and offshore in the Gulf of Mexico. The
U.S. is also a key country for the deployment of TotalEnergies’
Integrated Power strategy – with 25 GW of renewables projects and
flexible generation assets, and as a power trading hub in Houston.
Find out more about TotalEnergies’ U.S. presence here.
About TotalEnergies
TotalEnergies is a global integrated energy company that
produces and markets energies: oil and biofuels, natural gas and
green gases, renewables and electricity. Our more than 100,000
employees are committed to provide as many people as possible with
energy that is more reliable, more affordable and more sustainable.
Active in about 120 countries, TotalEnergies places sustainability
at the heart of its strategy, its projects and its operations.
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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company”
in this document are used to designate TotalEnergies SE and the
consolidated entities that are directly or indirectly controlled by
TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also
be used to refer to these entities or to their employees. The
entities in which TotalEnergies SE directly or indirectly owns a
shareholding are separate legal entities. This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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