
French Kiss in the Oklahoma Anadarko
Paris, France-based TotalEnergies has been a wheeler-dealer investor this month to add more muscle to its LNG value chain in the U.S. The multinational giant has a long history buying up energy assets here, starting in 1957 with oil production and over the years expanding its energy portfolio to include natural gas, renewables, electric power, biofuels, refining, and petrochem.
Reese Energy Consulting today is following the latest news from TotalEnergies, the nation’s leading LNG exporter and the world’s third-largest supplier. Over the last three years, the company has invested $11 billion in the U.S. to develop its oil, natural gas, and power assets, while building integrated power and LNG business models. Total relies on American natural gas to secure both its strategies and that means keeping eyes wide open for supply opportunities.
Now in a surprise move, TotalEnergies has announced it will acquire a 49% interest of gas-producing assets in the Anadarko from Okla. City-based Continental Resources—the King of the Basin—for an undisclosed price, darn it. Details are scarce but the deal fits both partners to add more weight to their LNG strategies