Integrated oil and gas company,
) expanded its operations in the UK by acquiring a 40% interest
in two shale gas exploration licenses in the country. The
Petroleum Exploration & Development licenses 139 and 140 are
in the Gainsborough Trough area of the East Midlands region of
the UK which covers an area of 240 sq km (92.66 sq mile).
TOTAL has been working in the UK for more than five decades.
TOTAL presently aims to invest nearly $2 billion in the country
on a yearly basis and become the largest producer of natural gas
and oil there by 2015. In 2013, TOTAL produced 105,000 barrels of
oil equivalent per day.
TOTAL is presently developing the West Franklin Phase II project
(operator, 40,000 boe/d capacity), and the Laggan-Tormore project
(operator, 90,000 boe/d capacity) in the West of Shetland area,
both of which are scheduled to start up in 2014. These ongoing
projects are expected to boost the company's production going
Oil and natural gas production from Europe accounted for nearly
17% of the total daily production of the company in third quarter
2013. TOTAL has operations in more than 130 countries across five
continents and its production touched 2,299 thousand barrels of
oil equivalent (kboe) per day in the last reported quarter.
Natural gas is gaining importance worldwide for its clean burning
nature. The increasing demand for natural gas has prompted the
global majors to increase their focus on natural gas production.
TOTAL has been leveraging its strong financial position to
acquire new assets and drilling licenses to explore possible
reserve rich locations.
Recently, another oil and gas major
Petroleo Brasileiro SA
) acquired 49 of the 72 oil and natural gas blocks, auctioned by
Brazil's National Petroleum Agency, or ANP. The investment made
by Petrobras is in sync with its long-term exploration plan.
TOTAL S.A. currently has a Zacks Rank #4 (Sell). Better-ranked
companies in the oil & sector include
Athlon Energy Inc.
), both with a Zacks #1 Rank (Strong Buy).
ATHLON ENERGY (ATHL): Free Stock Analysis
PETROBRAS-ADR C (PBR): Free Stock Analysis
TOTAL FINA SA (TOT): Free Stock Analysis
YPF SA D CV ADR (YPF): Free Stock Analysis
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