TotalEnergies Increases Stake In Eagle Ford Field
The French company TotalEnergies has entered into an agreement to purchase a 20% stake in the Eagle Ford field in Texas from Lewis Energy Group (EOG Resources manages the remaining 80%). This was reported by the press service of TotalEnergies.
The acquisition will allow the company to increase its U.S. natural gas production by 50 million cubic feet per day (MMcf/d) in 2024 (500 MMcf/d), with the option to increase production by an additional 50 MMcf/d by 2028. In 2023, TotalEnergies’ net natural gas production in the United States was approximately 340 million cubic feet per day (3.5 billion cubic meters per year).
Additionally, in 2023, TotalEnergies became the leading exporter of liquefied natural gas (LNG) to the United States with total production of more than 10 million tons. This achievement was supported by its 16.6% stake in the Cameron LNG plant in Louisiana and several long-term agreements about procurement.
TotalEnergies’ LNG export capacity will reach 15 million tonnes per annum by 2030 with the launch of the first phase of the Rio Grande LNG project in Texas, which is currently under construction.
