AleAnna announces near-term start of production at Longanesi field

AleAnna (ANNA) announced the near-term onset of production at the Longanesi field in Europe. Located in the Province of Ravenna in Northern Italy, the Longanesi field – AleAnna Italia, working interest 33.5% and Societa Padana Energia, operator with 66.5% working interest – is a cornerstone of AleAnna’s portfolio. The first five wells contain net recoverable Proved natural gas reserves of 17.3 Bcf, net Probable reserves of 10.6 Bcf and net Possible reserves of 10.7 Bcf. Longanesi is characterized by high permeability turbidite reservoirs similar to those found in deepwater Gulf of Mexico fields, and is expected to produce with moderate decline rates for several years ensuring a predictable and strong EBITDA profile. By advancing current and future investments at Longanesi, AleAnna aims to address the gap in natural gas supply left by the loss of Russian gas imports. On December 19, 2024 AleAnna announced that it had signed a multiyear gas sales agreement for its share of Longanesi production with Shell Energy Europe.