AleAnna achieves targeted maximum 2025 production rate before 6 weeks

AleAnna (ANNA) announced “strong” early performance from the Longanesi Field. All five wells in the Phase 1 development are contributing to current daily production averaging 28 million cubic feet per day, which was AleAnna’s budgeted maximum rate for 2025. The growth rate in daily production over the first 6 full weeks of production signals potential for the Phase 1 development to outperform initial expectations. Current production is generating in excess of $100K in revenue per day net to AleAnna’s account. In addition, the company expects further expansions of reserves and additional increases in daily production, highlighting Longanesi’s importance as a driver of mid-to-longer term growth for AleAnna. The EU has stated an overarching goal to completely eliminate Russian natural gas supply by year-end 2027. The need to replace this supply has created a near-to-mid-term increase in the price of natural gas in the EU. By advancing current and future investments at Longanesi, AleAnna aims to address the gap in natural gas supply left by the loss of Russian natural gas imports.