TotalEnergies has entered into an agreement to acquire the 20 percent interest held by Lewis Energy Group in the Dorado leases, operated by EOG Resources (80 percent) in the Eagle Ford shale gas play. This strategic move aims to bolster TotalEnergies’ natural gas production capacity in Texas while fortifying its integration within the U.S. LNG value chain.
Situated in Texas, the Dorado field is poised to augment TotalEnergies’ net U.S. natural gas production by 50 million cubic feet a day in 2024, with the potential for an additional 50 Mcf/d by 2028. The field maintains an emission intensity of approximately 10 kg CO2e/boe. In 2023, TotalEnergies’ net U.S. natural gas output reached around 340 Mcf/d.
With a substantial output exceeding 10 million tons in 2023, TotalEnergies claimed the top spot as the foremost exporter of U.S. LNG. This achievement is attributed to its 16.6 percent ownership stake in the Cameron LNG plant in Louisiana, coupled with several long-term purchasing agreements. The Company’s LNG export capacity is projected to reach 15 Mt/y by 2030, following the anticipated launch of the first phase of the Rio Grande LNG project in Texas, currently in progress.
Nicolas Terraz, president of exploration & production at TotalEnergies, commented on the acquisition, stating, “This acquisition strengthens our production of natural gas in the United States, contributing to reinforce TotalEnergies’ LNG integration with a low-cost and low-emission upstream gas feed. We are pleased to partner with EOG Resources, an operator recognized for its strong technical expertise.”
TotalEnergies has been actively operating in the United States since 1957, deploying its integrated energy model across various sectors. With a significant LNG output in 2023, TotalEnergies emerged as the leading exporter of US LNG. Moreover, the company is deeply integrated throughout the LNG value chain, with upstream gas production assets in Texas and significant renewable energy projects.
Ranked as the world’s third-largest LNG player, TotalEnergies boasts a global portfolio of 44 Mt/y in 2023. This robust presence across liquefaction plants worldwide underscores its commitment to increasing the share of natural gas in its sales mix to close to 50 percent by 2030, aligning with its ambition to reduce carbon emissions and promote the transition to cleaner energy sources.
For more information visit www.totalenergies.com
