TotalEnergies to buy 49% stake in Continental Resources’ gas assets
TotalEnergies has entered into an agreement to purchase a 49% interest in natural gas-producing assets in the Anadarko Basin, Oklahoma, US.
The assets are owned and operated by US-based independent oil producer Continental Resources and are linked to the Henry Hub via existing midstream infrastructure.
These assets are expected to have gross production potential of around 350 million standard cubic feet per day (mscf/d) by 2030, with the capacity to sustain that level over the long term.
On a net basis, TotalEnergies anticipates securing around 150mscf/d of gas production from the stake.
This purchase of non-operated shale gas assets complements TotalEnergies’ Dorado and Constellation acquisitions in the Eagle Ford Basin in 2024.
Additionally, TotalEnergies operates technical production of approximately 500mscf/d in the Barnett.
TotalEnergies Exploration & Production president Nicolas Terraz said: “This acquisition will further increase our natural gas production in the US and consolidate TotalEnergies’ integrated LNG [liquefied natural gas] position with a competitive low-cost and low-emission gas production.
“We are delighted to partner with Continental Resources, a reference operator in the Anadarko Basin, recognised for its strong technical expertise and operational excellence.”
In June, TotalEnergies signed an agreement with Spanish company Moeve (formerly CEPSA) to buy the 25% interest held by Moeve in Block 53 offshore Suriname.
This acquisition positions TotalEnergies as a partner in the licence alongside APA, which holds a 45% stake and operates the block, and Petronas, which owns 30%.
During the same month, the company also purchased a 25% working interest in a portfolio of US offshore exploration leases from Chevron.
“TotalEnergies to buy 49% stake in Continental Resources’ gas assets” was originally created and published by Offshore Technology, a GlobalData owned brand.
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