Total content for now with US shale holdings

Total SA has no plans to make any more US shale acquisitions, at least for now, because the French oil and gas company already is satisfied with its international shale oil and gas holdings, executives said.

Currently, Total E&P USA Inc. has joint ventures with Chesapeake Energy Corp. in the Barnett gas shale in Texas and the liquids-rich Utica shale in Ohio (OGJ Online, Jan. 3, 2012).

“Honestly, we’re losing money on Barnett," Patrick de la Chevardiere, Total chief financial officer, said during a Sept. 24 investors presentation in London. “I’m not saying we’ll never do any more acquisitions in US shale gas and oil, but today we have a good balance between shale oil and gas, plus acreage in Argentina,” he stated.

Total has interests in four blocks in the Neuquen basin in partnership with Argentina’s YPF (OGJ Online, Jan. 14, 2011).

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...