TotalEnergies, a global integrated energy company, has entered an agreement with Continental Resources, a major American Petroleum and gas company, to acquire a 49% stake in natural gas assets operated by Continental in the Anadarko Basin, Oklahoma, the company reported in a press release. This acquisition of low-cost, long-life assets strategically connected to the Henry Hub, aims to reinforce TotalEnergies’ position across the US Liquefied Natural Gas (LNG) value chain.

The Henry Hub is a major natural gas distribution and pipeline nexus in Erath, Louisiana, It connects several interstate and intrastate natural gas pipelines, making it a key point for gas delivery and trading. Prices at Henry Hub are used as the key pricing benchmark for natural gas in the North American and global energy markets.

This transaction is expected to significantly boost TotalEnergies’ US natural gas portfolio, complementing its existing positions in the Barnett and Eagle Ford Basins. The Anadarko assets’ gross production is projected to reach approximately 350 million standard cubic feet per day (mmscfd) by 2030 and maintain that level long-term. TotalEnergies’ net production share from this deal will be about 150 mmscfd.

The acquisition builds on TotalEnergies’ strategy to strengthen its US shale gas portfolio. The company currently operates technical production of about 500 mmscfd in the Barnett Basin.

In 2024, TotalEnergies expanded its US shale gas interests in the Eagle Ford Basin through two acquisitions from Lewis Energy Group: a 20% stake in Dorado leases operated by EOG Resources, adding approximately 50 mmcfd of net production with potential to double by 2028, and a 45% interest in additional dry-gas assets, expected to reach about 400 mmcfd gross output by 2028.