TotalEnergies SE (NYSE:TTE) shares are trading higher premarket Friday. The company reached an agreement with Lewis Energy Group to acquire a 45% stake in its dry gas-producing assets in Texas’ Eagle Ford basin for an undisclosed amount.

Terms of the deal were not disclosed.

The acquisition of low-cost, long-life assets enhances TotalEnergies’ presence in the U.S. gas value chain and follows the company’s Texas Dorado acquisition in April 2024.

This marks TotalEnergies’ second acquisition of non-operated shale gas assets in 2024, following the purchase of a non-operated interest in the Dorado asset, also in the Eagle Ford basin.

Additionally, TotalEnergies operates approximately 500 Mcf/d of technical production in the Barnett region.

"This acquisition further strengthens our upstream gas position in the United States and contributes to our integrated LNG position with a low cost upstream gas supply", said TotalEnergies President Nicolas Terraz.

This week, TotalEnergies signed a deal with HD Hyundai Chemical for 200,000 tons of LNG annually starting in 2027.

Also, TotalEnergies signed a 10-year agreement to supply Air France-KLM with 1.5 million tons of sustainable aviation fuel (SAF) through 2035.

Investors can gain exposure to the stock via Advisor Managed Portfolios Miller Value Partners Appreciation ETF (NYSE:MVPA) and Octane All-Cap Value Energy ETF (NASDAQ:OCTA).

Price Action: TTE shares are up 0.84% at $66.22 premarket at the last check Friday.

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