Latest news with #JavierRielo
Yahoo
4 days ago
- Business
- Yahoo
TotalEnergies divests 45% stake in two Argentine blocks for $500m
TotalEnergies, through its affiliate Total Austral, has reached an agreement with YPF to sell its 45% interest in two unconventional oil and gas blocks in Argentina for $500m (€427.67m). The transaction involves the Rincon La Ceniza and La Escalonada blocks, valued at approximately $10,000 per acre. The concessions, spanning 51,000 net acres, are located in the prolific Vaca Muerta shale formation within the Neuquén Basin. These blocks are currently undergoing pilot development. Total Austral's partners in these concessions include Gas y Petroleo de Neuquen with a 10% stake and O&G Developments, a Shell-owned company, holding the remaining 45%. The completion of this divestment is contingent upon the satisfaction of standard conditions. TotalEnergies senior vice-president Americas exploration & production Javier Rielo said: 'The sale of Rincon La Ceniza and La Escalonada blocks is part of our active portfolio management strategy. TotalEnergies remains fully committed to Argentina, where it operates a large unconventional area of 183,000 nets acres in the Vaca Muerta play, after the divestment of these two blocks, which represented around 20% of our net acreage in that play. 'The company is currently producing gas and condensates from the operated blocks Aguada Pichana Este and San Roque, with a combined production of around 50,000boepd [barrels of oil equivalent per day] in TotalEnergies share in 2024. This transaction allows us to unlock value from part of our portfolio, while focusing on the development of our core assets in the Neuquén Basin and in the offshore of Tierra del Fuego.' In related news, TotalEnergies is reportedly making progress at its $20bn liquefied natural gas (LNG) project in northern Mozambique. Preliminary site preparations have begun, marking a significant step towards the project's resumption. It had been suspended since 2021 due to escalating militant attacks in the region, which have been linked to the Islamic State. As of early July 2025, TotalEnergies had issued a notice to its contractors to proceed with site preparations, signalling the recommencement of work on the LNG project. "TotalEnergies divests 45% stake in two Argentine blocks for $500m" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Wire
5 days ago
- Business
- Business Wire
Argentina: TotalEnergies Divests Its Interest in Two Vaca Muerta Unconventional Blocks
PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces that its affiliate Total Austral has signed an agreement with YPF SA for the sale of its 45% operated interest in two unconventional oil and gas blocks in Argentina, Rincon La Ceniza and La Escalonada, for an amount of USD 500 million at a valuation of around 10,000 USD/acre. Located in the Vaca Muerta area in the Neuquén Basin, these concessions (51,000 net acres) are currently in a pilot development phase. Total Austral's partners in these concessions are Gas y Petroleo de Neuquen (10%) and O&G Developments LTD S.A (45%), owned by Shell. 'The sale of Rincon La Ceniza and La Escalonada blocks is part of our active portfolio management strategy. TotalEnergies remains fully committed to Argentina, where it operates a large unconventional area of 183,000 nets acres in the Vaca Muerta play, after the divestment of these two blocks which represented around 20% of our net acreage in that play. The Company is currently producing gas and condensates from the operated blocks Aguada Pichana Este and San Roque, with a combined production of around 50,000 boe/d in TotalEnergies share in 2024. This transaction allows us to unlock value from part of our portfolio, while focusing on the development of our core assets in the Neuquén Basin and in the offshore of Tierra del Fuego' said Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies. Completion of the transaction is subject to customary conditions. *** TotalEnergies in Argentina TotalEnergies has been operating in Argentina since 1978, and today employs more than 1,100 people in its business segments, in Exploration & Production, renewable electricity (solar and wind), and lubricants. Through its Total Austral affiliate, it is the country's leading international gas producer, operating some 25% of production. The Company's equity share of production averaged 95,000 barrels of oil equivalent per day in 2024. In Tierra del Fuego, alongside partners Harbour Energy (37.5%) and Pan American Sur (25%), TotalEnergies (37.5%) operates the Cuenca Marina Austral 1 (CMA-1) concession, which includes onshore fields and 6 offshore platforms. In Neuquen, the Company holds equity interests in three operated onshore blocks. Across the country, TotalEnergies operates 3 wind farms and 1 solar plant, with an installed capacity of approximately 300 MW. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. @TotalEnergies TotalEnergies TotalEnergies TotalEnergies Cautionary Note The terms 'TotalEnergies', 'TotalEnergies company' or 'Company' in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words 'we', 'us' and 'our' may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
Business Wire
27-06-2025
- Business
- Business Wire
Suriname: TotalEnergies Acquires 25% Interest in Block 53
PARIS--(BUSINESS WIRE)-- TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement to acquire the 25% interest held by Moeve (formerly known as CEPSA) in Block 53, offshore Suriname, joining APA (45%, operator) and Petronas (30%) as partner in this license. Block 53 lies directly east of Block 58, where TotalEnergies (40%*, operator) and its partners announced the Final Investment Decision for the GranMorgu development in October 2024. Block 53 contains the Baja-1 discovery, drilled near the border of Block 58. 'This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project', said Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies. 'It also proves how TotalEnergies will leverage GranMorgu infrastructure to develop profitably additional resources and extend its production plateau, strengthening the position of the Company in the offshore of Suriname'. * After 20% Staatsolie (NOC) back-in *** About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. @TotalEnergies TotalEnergies TotalEnergies TotalEnergies Cautionary Note The terms 'TotalEnergies', 'TotalEnergies company' or 'Company' in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words 'we', 'us' and 'our' may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). TotalEnergies Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@
Yahoo
24-06-2025
- Business
- Yahoo
TotalEnergies (TTE) Swaps Gato do Mato Stake for Lapa Oil Field to Boost Production
TotalEnergies SE (NYSE:TTE) is one of the 10 most undervalued oil stocks to buy according to analysts. On June 4, TotalEnergies SE (NYSE:TTE) declared that it had signed a deal with Shell Brasil Petróleo Ltda to swap its 20% non-operated stake in the Gato do Mato project for a 3% stake in the offshore oil field Lapa. Located in the Santos Basin, some 270 kilometers off the coast of Brazil, the Lapa field is managed by TotalEnergies SE (NYSE:TTE) as a deep-offshore project. Having received approval back in 2023, the Lapa South-West tie-back development is expected to greatly increase the field's production potential. When the field comes online by the end of this year, this development project is anticipated to increase production by 25,000 barrels per day, bringing Lapa's total production to 60,000 barrels per day. The deal is in line with TotalEnergies' strategic focus on low-cost, low-emission projects, according to Javier Rielo, senior vice president Americas, exploration & production. He cited TotalEnergies' recent approval of the 2024 Atapu 2 and Sepia 2 projects in Brazil as illustrations of this strategic approach. A global integrated energy company, TotalEnergies SE (NYSE:TTE) generates electricity, renewable energy, oil, biofuels, and natural gas and green gases. While we acknowledge the potential of TTE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None.
Yahoo
04-06-2025
- Business
- Yahoo
Brazil: TotalEnergies Increases its Interest in Lapa
TotalEnergies EP Brasil has signed an agreement with Shell Brasil, aiming to: increase its interest in the operated Lapa offshore field to 48% by acquiring an additional 3% stake from Shell divest its 20% stake in Gato do Mato PARIS, June 04, 2025--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the signature of an agreement with Shell Brasil Petróleo Ltda to exchange its 20% non-operated interest in the Gato do Mato project for an additional 3% interest in Lapa, a producing offshore oil field. Upon closing, TotalEnergies will increase its stake in Lapa to 48% (Operator), alongside Shell (27%) and Repsol Sinopec (25%). Located in the Santos Basin, 270 kilometers off the coast of Brazil, Lapa is a deep-offshore field operated by TotalEnergies. The Lapa South-West tie-back development, approved in 2023, will increase production by 25,000 barrels per day upon start-up by year-end, bringing total output of the field to 60,000 barrels per day. "This transaction is aligned with our strategy to focus on low-cost, low-emission projects, such as Atapu 2 and Sepia 2 in Brazil, sanctioned in 2024. In addition, it further strengthens our operated position in the Lapa field, in the pre-salt Santos Basin," said Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies. This agreement is subject to customary conditions precedent, notably regulatory approvals. *** About TotalEnergies in Brazil TotalEnergies has been operating in Brazil for 50 years and employs close to 4 000 people in the country. Its presence encompasses Exploration & Production, gas, renewable electricity (wind, solar, batteries), lubricants and elastomer processing. TotalEnergies' Exploration & Production portfolio currently includes 11 licenses, of which four are operated. In 2024, the Company's average production in the country was 153,000 barrels of oil equivalent per day. TotalEnergies is investing in the growth of the renewable energy segment in Brazil: in October 2022, it entered a partnership with Casa dos Ventos, Brazil's leading renewable energy player, to jointly develop a 12 GW renewable energy portfolio, including onshore wind, photovoltaic and battery storage. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. X @TotalEnergies LinkedIn TotalEnergies Facebook TotalEnergies Instagram TotalEnergies Cautionary Note The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). View source version on Contacts TotalEnergies Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
