United States: TotalEnergies Pursues its Gas Value Chain Integration by Acquiring Producing Assets in the Anadarko Basin

Core Viewpoint - TotalEnergies is enhancing its natural gas production capabilities in the U.S. by acquiring a 49% interest in natural gas producing assets in the Anadarko Basin from Continental Resources, which will strengthen its LNG value chain integration [1][9]. Group 1: Acquisition Details - The acquisition involves low-cost and long-plateau natural gas assets that are well connected to Henry Hub through existing midstream infrastructure [1][9]. - The acquired assets have the potential to reach a gross production of approximately 350 million standard cubic feet per day (MMscfd) by 2030, sustaining this production level over the long term [2]. - TotalEnergies aims to secure a net gas production of around 150 MMscfd from these assets [2]. Group 2: Strategic Positioning - This acquisition complements previous acquisitions in the Eagle Ford Basin, specifically the Dorado and Constellation assets completed in 2024 [2]. - TotalEnergies operates a technical production of around 500 MMscfd in the Barnett, further enhancing its production capabilities [3]. Group 3: Company Ambitions - TotalEnergies is the world's third-largest LNG player with a global portfolio of 40 million tons per year (Mt/y) in 2024, benefiting from an integrated position across the LNG value chain [4]. - The company aims to increase the share of natural gas in its sales mix to nearly 50% by 2030, focusing on reducing carbon emissions and eliminating methane emissions associated with the gas value chain [4].