TotalEnergies has reached an agreement with Lewis Energy Group to acquire a 45% stake in dry gas producing assets located in the Eagle Ford basin, Texas. This acquisition enhances TotalEnergies’ integration along the gas value chain in the U.S. and follows its recent purchase of the Texas Dorado asset announced in April 2024. The newly acquired assets, situated in Southwest Texas, are expected to achieve a sustainable gross production capacity of approximately 400 Mcf/d by 2028.

This marks TotalEnergies' second acquisition of non-operated shale gas assets in 2024, following its earlier acquisition of a non-operated interest in the Dorado asset from Lewis Energy Group. Additionally, TotalEnergies manages technical production of around 500 Mcf/d in the Barnett formation. With over 10 million tons (Mt) of liquefied natural gas (LNG) exported in 2023, TotalEnergies stands as the largest LNG exporter in the U.S., backed by its 16.6% stake in the Cameron LNG facility in Louisiana and multiple long-term purchase agreements. The company anticipates its U.S. LNG export capacity will rise to 15 Mt/y by 2030.

Nicolas Terraz, President of Exploration & Production at TotalEnergies, emphasized that this acquisition bolsters the company’s upstream gas position in the U.S. and supports its integrated LNG strategy with a cost-effective upstream gas supply. He expressed enthusiasm for partnering with Lewis Energy Group, recognizing it as a respected and efficient gas operator with a strong presence in South Texas.

TotalEnergies is implementing its integrated energy model across the United States, where it has been operational since 1957. In 2023, the company produced over 10 million tons of LNG, making it the top exporter of U.S. LNG. TotalEnergies aims to boost its capacity to 15 million tons per year following the launch of the Rio Grande LNG plant in South Texas. The company is fully integrated throughout the LNG value chain, with ownership of upstream gas production assets in both Texas and the Gulf of Mexico offshore. Additionally, the U.S. plays a crucial role in TotalEnergies’ Integrated Power strategy, featuring 25 GW of renewable projects, flexible generation assets, and serving as a power trading hub in Houston.

TotalEnergies is a global integrated energy firm engaged in the production and marketing of oil and biofuels, natural gas, green gases, renewables, and electricity. With over 100,000 employees, the company is dedicated to delivering energy that is reliable, affordable, and sustainable to as many people as possible. Operating in approximately 120 countries, TotalEnergies prioritizes sustainability in its strategy, projects, and operations, ensuring that environmental considerations are central to its business approach.