TotalEnergies Acquires 42.5% Interest in Namibia's PEL104 License
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 06 2026
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Should l Buy TTE?
Source: Newsfilter
- Acquisition Agreement: TotalEnergies has signed agreements to acquire a 42.5% operated interest in the PEL104 exploration license in Namibia from Eight Offshore Investments Holdings and Maravilla Oil & Gas, further solidifying its market position in Namibia.
- Enhanced Operational Control: Upon completion of the transaction, TotalEnergies will operate the PEL104 license alongside Petrobras (42.5%), Namcor (10%), and Eight (5%), indicating a strategic expansion in the region.
- Resource Development Outlook: Following the acquisition of a 40% interest in the PEL83 license, TotalEnergies enters this new exploration license to develop the Venus and Mopane discoveries, which is expected to unlock greater value for both the company and Namibia.
- Historical Context and Growth: TotalEnergies has been operating in Namibia since 1964, employing 55 people and managing 43 service stations, demonstrating its ongoing commitment to low-carbon projects and a multi-energy strategy in the country.
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Analyst Views on TTE
Wall Street analysts forecast TTE stock price to fall
16 Analyst Rating
8 Buy
8 Hold
0 Sell
Moderate Buy
Current: 91.030
Low
60.04
Averages
71.67
High
90.93
Current: 91.030
Low
60.04
Averages
71.67
High
90.93
About TTE
TotalEnergies SE is a France-based company. The Company is predominantly engaged in the business as a worldwide oil group. Its segment divisions are divided into refining and chemistry such as refining of petroleum products and manufacture of basic chemistry and of specialty chemistry, petroleum products distribution, electricity generation from combined cycle gas plants and renewable energies, gas production, trading, transport and distribution primarily includes liquefied natural gas, natural gas, biogas, hydrogen, liquefied petroleum gas and hydrocarbon operating and production. The group is also operating in trading and sea transport of crude oil and oil products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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See More
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- Significant Cash Flow Increase: Cash flow reached $8.6 billion in the first quarter, up 20% from the previous quarter, indicating the company's sustained cash generation capability in a high oil price environment, supporting future investments and shareholder returns.
- Dividend Growth and Buyback Plan: The Board of Directors decided to increase the first interim dividend by 5.9% to €0.90 per share while authorizing up to $1.5 billion in share buybacks in Q2, reflecting the company's commitment and confidence in shareholder value.
- Diverse Business Performance: The Integrated LNG segment achieved an adjusted net operating income of $1.3 billion and cash flow of $1.8 billion in Q1, showcasing the company's ability to capture market opportunities amid volatility, driving overall business growth.
See More
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- Increased Generation Capacity: TTEP operates flexible natural gas and biomass power plants and battery energy storage systems across Italy, the UK, Ireland, the Netherlands, and France, with a total capacity of 14 GW and an expected electricity production of nearly 30 TWh in 2025, significantly enhancing its competitive position in the market.
- Diverse Project Portfolio: TTEP boasts a 5 GW project portfolio, serving as the preferred investment vehicle for TotalEnergies and EPH to develop flexible power generation and large-scale battery storage solutions across the five countries, thereby promoting further advancements in renewable energy.
- Equity Structure Change: The TotalEnergies Board has approved the issuance of approximately 95.4 million shares to EPH, representing about 4.2% of TotalEnergies' share capital, making EPH one of the company's main shareholders, which further solidifies the strategic partnership between the two entities.
See More
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- Increased Shareholder Returns: TotalEnergies (TTE) board authorized stock buybacks of up to $1.5 billion for Q2, significantly up from the $750 million target for Q1, reflecting the company's confidence in future profitability.
- Dividend Growth: The company declared a first interim dividend of €0.90 per share for FY 2026, representing a 5.9% increase compared to the three interim dividends paid for FY 2025, enhancing the attractiveness of the investment for shareholders.
- Earnings Beat Expectations: TotalEnergies reported Q1 adjusted EPS of $2.45, surpassing analyst estimates of $2.16, with total sales rising 3.7% year-over-year to $54.16 billion, demonstrating the company's resilience in a turbulent market.
- Production Growth Amid Challenges: Despite the impact of the Iran war, TotalEnergies achieved 4% year-over-year organic production growth in Q1, while production shutdowns in the Middle East are expected to resume within 2-3 months, maintaining high oil price levels.
See More
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- Significant Profit Growth: TotalEnergies reported an adjusted net income of $5.4 billion for Q1, a 29% increase from $4.2 billion year-over-year, surpassing the $5 billion analyst consensus, despite regional disruptions shutting in about 15% of upstream production, showcasing the company's resilience amid high oil prices and robust trading activity.
- Increased Shareholder Returns: The company announced it would resume share buybacks of up to $1.5 billion in Q2, doubling the pace from the $750 million rate it had cut to in February, indicating strong confidence in future market prospects and commitment to shareholders.
- Dividend Raise: TotalEnergies raised its quarterly dividend by 5.9% to €0.90 per share, reflecting its dedication to enhancing shareholder returns amid profit growth, which is likely to bolster investor confidence further.
- Strong Performance Across Segments: The refining and chemicals segment saw earnings soar to $1.6 billion, more than quintupled year-over-year, while upstream exploration and production earnings rose 5% to $2.58 billion, demonstrating the company's robust performance across its diversified business lines.
See More
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- Net Income Surge: TotalEnergies reported a 51% year-over-year increase in net income for Q1, reaching $5.81 billion, demonstrating significant profitability despite nearly flat production levels amid rising sales.
- Adjusted EPS Growth: Adjusted earnings per share rose from $1.83 to $2.45, marking a 34% increase, reflecting enhanced profitability driven by higher oil and gas prices and robust trading activities.
- Sales Revenue Increase: Sales revenue grew from $52.25 billion to $54.16 billion in Q1, primarily due to rising oil and gas prices and strong market demand, further solidifying TotalEnergies' position in the global energy market.
- Dividend and Buyback Plans: The Board approved a 5.9% increase in the interim dividend to €0.90 per share and authorized up to $1.5 billion in share buybacks for Q2, indicating strong confidence in future cash flows and commitment to shareholder returns.
See More
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- Payment Schedule: This dividend is set to be paid on October 2, 2026, with an ex-dividend date of September 30, ensuring timely returns for shareholders and reinforcing the company's image in the capital markets.
- Future Outlook: While this interim dividend has been confirmed, future interim or annual dividend payments have yet to be decided, with the Board evaluating based on financial performance and market conditions, demonstrating the company's flexibility and prudent approach to shareholder returns.
- Strategic Focus: TotalEnergies emphasizes sustainability in its operations across 120 countries, and will continue to integrate renewable energy and low-carbon technologies into its strategy to address the challenges of global energy transition.
See More
