Continental Resources farms-out stake in Anadarko basin natural gas assets to TotalEnergies
Privately held Continental Resources has agreed to farm out a 49% stake in natural gas assets across Oklahoma’s Anadarko basin to TotalEnergies. A purchase price was not disclosed.
The transaction brings long-life, low-cost shale gas resources tied into Henry Hub through existing infrastructure, supporting TotalEnergies’ broader strategy to expand its integrated LNG portfolio in the US, the company said in a release Sept. 29.
The Anadarko basin assets could reach 350 MMscfd in gross output by 2030, TotalEnergies said, with potential for sustained production “over the long term,” and enabiling the company “to secure a net gas production of around 150 MMscfd,” the company continued.
The assets compliment TotalEnergies’ Dorado and Constellation assets in Eagle Ford basin, providing stable low-cost feedstock for LNG export plants under long-term contracts with Asia buyers, it said.
“This acquisition will further increase our natural gas production in the United States and consolidate TotalEnergies’ integrated LNG position with competitive low-cost and low-emission gas production,” said Nicolas Terraz, president of exploration and production at TotalEnergies.
