TotalEnergies has reached an agreement to acquire a 45% stake in dry gas-producing assets from Lewis Energy Group in the Eagle Ford Basin, Texas. This move bolsters TotalEnergies’ integration across the U.S. gas value chain and follows the earlier acquisition of the Texas Dorado asset announced in April 2024.
The newly acquired assets in Southwest Texas are expected to be developed for sustainable gross production of approximately 400 million cubic feet per day (Mcf/d) by 2028. This marks TotalEnergies’ second acquisition of non-operated shale gas assets in 2024, following its earlier purchase of non-operated interests in the Dorado asset.
TotalEnergies is also a significant player in U.S. liquefied natural gas (LNG) exports, having exported over 10 million tons (Mt) in 2023, making it the largest exporter of U.S. LNG. The company holds a 16.6% stake in the Cameron LNG plant in Louisiana, with plans to increase its U.S. LNG export capacity to 15 Mt/y by 2030.
“This acquisition further strengthens our upstream gas position in the United States and supports our integrated LNG strategy with a low-cost upstream gas supply,” stated Nicolas Terraz, President of Exploration & Production at TotalEnergies. “We are excited to partner with Lewis Energy Group, a respected and efficient operator with a strong history in South Texas.”
