TotalEnergies Expands U.S. Gas Footprint with Eagle Ford Basin Acquisition

TotalEnergies Expands U.S. Gas Footprint with Eagle Ford Basin Acquisition

(IN BRIEF) TotalEnergies has acquired a 45% stake in gas-producing assets in Texas’ Eagle Ford Basin from Lewis Energy Group, further expanding its U.S. natural gas operations. This move strengthens TotalEnergies’ integration across the gas value chain and follows a previous acquisition in the same region earlier in 2024. The assets are projected to produce 400 Mcf/d by 2028, bolstering the company’s position as the largest exporter of U.S. LNG.

(PRESS RELEASE) PARIS, 27-Sep-2024 — /EuropaWire/ — TotalEnergies has entered into an agreement with Lewis Energy Group to acquire a 45% stake in dry gas-producing assets located in the Eagle Ford Basin, Texas. These assets are operated by Lewis Energy Group and will help bolster TotalEnergies’ presence in the U.S. natural gas market, reinforcing its gas value chain integration. This acquisition follows a similar purchase made in April 2024 for the Dorado asset, also located in the Eagle Ford Basin.

The newly acquired assets, located in Southwest Texas, have the potential to deliver sustainable production, targeting approximately 400 million cubic feet per day (Mcf/d) by 2028. This acquisition is part of TotalEnergies’ strategy to expand its upstream gas production, as the company continues to strengthen its natural gas operations in the U.S. Additionally, TotalEnergies produces around 500 Mcf/d of gas in the Barnett Shale region.

TotalEnergies’ acquisition in the Eagle Ford Basin complements its growing position as a leading exporter of U.S. liquefied natural gas (LNG). In 2023, the company exported over 10 million tons of U.S. LNG, largely due to its 16.6% stake in the Cameron LNG plant in Louisiana, along with other long-term purchasing agreements. By 2030, TotalEnergies’ U.S. LNG export capacity is expected to reach 15 million tons per year.

Nicolas Terraz, President of Exploration & Production at TotalEnergies, commented: “This acquisition strengthens our upstream gas presence in the United States and contributes to our integrated LNG operations with a reliable, low-cost gas supply. We are pleased to collaborate with Lewis Energy Group, a well-established and efficient operator 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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SOURCE: TotalEnergies