TotalEnergies Buys Anadarko Stake, Plans Major Asset Sales

TotalEnergies will buy a 49% stake in Continental Resources’ Anadarko Basin gas assets in Oklahoma, which the company says can reach about 350 MMscfd gross by 2030 (roughly 150 MMscfd net) and will bolster its U.S. LNG integration, including supply to Cameron LNG. CEO Patrick Pouyanne said TotalEnergies will seek roughly $3.5 billion of asset sales and implement a $7.5 billion savings program that will trim spending on some low‑carbon businesses. As part of that program TotalEnergies sold a minority stake in Denmark’s Bifrost CCS project to CarbonVault (Schwenk), retaining 45% while CarbonVault holds 35% and Norsofonden 20%; Bifrost is targeting 3 MtCO2/yr from 2027 and 5 Mt/yr by 2030. The company also agreed to divest non‑operated interests in three mature Greater Ekofisk Area fields—39.89% in West Ekofisk and Albuskjell to Vår Energi and 20.23% in Tommeliten Gamma to Orlen Upstream—with those transactions tied to the PPF project’s FID expected in Q4 2025 and production planned from end‑2028. Observers say the combined acquisitions and divestments reflect a multibillion‑dollar bet that gas demand from utilities and data centers will remain attractive even as renewables and storage become cheaper.