TotalEnergies has acquired a 49% stake in Continental Resources’ Anadarko Basin gas assets, targeting 150 MMscfd in net output by 2030 and boosting its U.S. LNG integration.
(P&GJ) — TotalEnergies has signed an agreement with Continental Resources to acquire a 49% interest in natural gas producing assets in the Anadarko Basin, Oklahoma. The assets are owned and operated by Continental Resources and are connected to the Henry Hub via existing midstream infrastructure.
The deal is expected to deliver long-plateau, low-cost production, with potential gross output reaching around 350 MMscfd by 2030. TotalEnergies’ net share would be approximately 150 MMscfd.
The French major said the acquisition adds to its U.S. shale gas portfolio, following earlier deals in the Eagle Ford’s Dorado and Constellation fields, and complements its technical production of about 500 MMscfd in the Barnett.
“This acquisition will further increase our natural gas production in the United States and consolidate TotalEnergies’ integrated LNG position with a competitive low-cost and low-emission gas production,” said Nicolas Terraz, President, Exploration & Production at TotalEnergies. “We are delighted to partner with Continental Resources, a reference operator in the Anadarko Basin, recognized for its strong technical expertise and operational excellence.”
TotalEnergies, the world’s third-largest LNG player, held a global portfolio of 40 million tons per year in 2024. The company said it aims to raise the share of natural gas in its sales mix to close to 50% by 2030, while pursuing carbon and methane emission reductions across the gas value chain.