TotalEnergies Inks Another Eagle Ford Basin Deal, Exec Says Stake Purchase 'Strengthens Upstream Gas Position'
Portfolio Pulse from Lekha Gupta
TotalEnergies has acquired a 45% stake in Lewis Energy Group's dry gas-producing assets in Texas' Eagle Ford basin, enhancing its U.S. gas value chain presence. This follows a previous acquisition in the same region and strengthens its upstream gas position. TotalEnergies shares are trading higher premarket.
September 27, 2024 | 1:29 pm
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POSITIVE IMPACT
Advisor Managed Portfolios Miller Value Partners Appreciation ETF provides exposure to TotalEnergies, which has recently expanded its U.S. gas operations. This could positively impact the ETF's performance.
MVPA holds TotalEnergies, which is expanding its U.S. gas operations. This acquisition could enhance the ETF's performance due to the positive market reaction to TotalEnergies' strategic moves.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Octane All-Cap Value Energy ETF includes TotalEnergies, which has strengthened its U.S. gas position with a new acquisition. This development may benefit the ETF's performance.
OCTA holds TotalEnergies, which is expanding its U.S. gas operations. The acquisition is likely to positively impact the ETF's performance due to the favorable market response.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
TotalEnergies' acquisition of a 45% stake in Lewis Energy Group's assets in the Eagle Ford basin strengthens its upstream gas position in the U.S. This move is part of its strategy to enhance its gas value chain and follows a similar acquisition earlier this year.
The acquisition is a strategic move to enhance TotalEnergies' gas value chain in the U.S., which is likely to be viewed positively by investors, as evidenced by the premarket share price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100