TotalEnergies SE announced a merger of its UK Upstream business with NEO NEXT Energy Ltd., forming NEO NEXT+. The completion is expected in the first half of 2026. NEO NEXT+ will be jointly owned by TotalEnergies, HitecVision, and Repsol UK. The merger aims to enhance portfolio value and cash flow, establishing the UK’s largest independent oil and gas producer. NEO NEXT+ anticipates daily output exceeding 250,000 barrels of oil equivalent in 2026. TotalEnergies’ stock closed 2.94% lower at $64.82 on the NYSE Friday.

Read more at Nasdaq: TotalEnergies To Merge With NEO NEXT To Form NEO NEXT+