TotalEnergies increases Texas natural gas production with Eagle Ford shale acquisition from EOG Resources

(WO) – TotalEnergies has agreed to acquire the 20% interest held by Lewis Energy Group in the Dorado leases operated by EOG Resources (80%) in the Eagle Ford shale gas play, increasing its natural gas production capacity in Texas and further strengthening its business integration in the U.S. LNG value chain.

TotalEnergies increases natural gas production in the U.S. Located in Texas, the Dorado shale field in the Eagle Ford will allow TotalEnergies to increase its net U.S. natural gas production by 50 MMcfd in 2024, with the potential for an additional 50 MMcfd by 2028.

The Dorado shale gas field has an emission intensity of around 10 kg CO2e/boe. In 2023, TotalEnergies’ net U.S. natural gas production reached around 340 MMcfd (450 MMcfd technical production).

TotalEnergies, largest exporter of U.S. LNG. With over 10 million tons (Mt) in 2023, TotalEnergies was the number one exporter of U.S. LNG, thanks to its 16.6% stake in the Cameron LNG plant in Louisiana and several long-term purchasing agreements. The company’s LNG export capacity will reach 15 MMt/y by 2030 following the start-up of the first phase of the Rio Grande LNG project in Texas, currently under construction.

"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,” said Nicolas Terraz, President, Exploration & Production at TotalEnergies. "We are pleased to partner with EOG Resources, an operator recognized for its strong technical expertise.”