AleAnna, Inc. Announces Strong Early Production and Revenue Results at Longanesi Field

Rhea-AI Summary

AleAnna (NASDAQ:ANNA) has reported exceptional early production results from its Longanesi Field, achieving its targeted 2025 maximum production rate of 28 million cubic feet per day in less than 6 weeks, significantly ahead of the anticipated 3-month timeline. With strong Italian natural gas prices averaging $13.50/Mcf, the company is generating over $100,000 in daily revenue.

All five wells in Phase 1 development are contributing to production, with potential to outperform initial expectations. The company's operations are strategically positioned to benefit from the EU's goal to eliminate Russian natural gas imports by 2027, currently accounting for 20% of EU supply. AleAnna's portfolio includes three conventional gas discoveries in Italy and fourteen planned exploration projects, alongside three RNG plants under development and approximately €1.1 billion in potential RNG investments.

Positive

• None.

Negative

• Risk of reservoir damage from early over-production requires careful management
• EU gas storage levels at only 34% of capacity indicates market vulnerability
• Significant capital requirements for planned €1.1 billion RNG investments

Insights

Energy Industry Analyst

AleAnna's Longanesi Field exceeds expectations with early production targets met, generating $100,000+ daily revenue amid favorable European gas market.

AleAnna's announcement reveals significant operational momentum at its Longanesi Field, with production reaching the targeted 2025 maximum rate of 28 million cubic feet per day in just 6 weeks—well ahead of the anticipated 3-month timeline. This accelerated ramp-up suggests robust reservoir performance across all five Phase 1 development wells.

The company is capitalizing on an exceptionally favorable pricing environment, with Italian natural gas commanding $13.50 per Mcf—nearly 4x higher than typical North American prices. This premium pricing translates to $100,000+ in daily revenue for AleAnna, representing an annualized run-rate of approximately $36.5 million.

What's particularly noteworthy is management's disciplined approach to reservoir management, as they're carefully balancing aggressive production with long-term reservoir health. The statement about preventing "damage to the reservoirs from early over-production" indicates technical sophistication and focus on maximizing ultimate recovery rather than short-term results.

The broader EU energy security context provides a compelling tailwind. With European gas storage at just 34% capacity and the EU's strategic goal to eliminate Russian gas imports (currently 20% of supply) by 2027, domestic producers like AleAnna are positioned to benefit from structural supply-demand imbalances for years to come. This policy environment effectively creates a price floor and demand guarantee that enhances the long-term value proposition of Longanesi beyond its immediate production metrics.

Targeted Maximum 2025 Production Rate Has Been Achieved After Less Than 6 Weeks of Production

• AleAnna and its partner Societa Padana Energia have recorded more than 6 weeks of continuous production history at the Longanesi Field, with steadily growing daily rates.
• Results have been above expectations, with a stabilized natural gas production rate of approximately 28 MM cubic feet per day, which was achieved well ahead of the anticipated 3-month timeline for this milestone.
• Strong natural gas prices in Italy, averaging about $13.50 / Mcf over the last 6 weeks, are providing AleAnna > $100,000 / day in revenues.
• The European Union’s (EU) stated goal of eliminating Russian natural gas imports by year-end 2027 should create a longer-term demand for domestic natural gas in Italy.

DALLAS and ROME, July 10, 2025 (GLOBE NEWSWIRE) -- AleAnna, Inc. (“AleAnna” or the “Company”) (Nasdaq: ANNA) is pleased to announce 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. While striving to prevent damage to the reservoirs from early over-production, the impressive growth rate in daily production over the first 6 full weeks of production nonetheless signals potential for the Phase 1 development to outperform initial expectations.

Combined with average Italian natural gas prices over this 6-week period of about $13.50 per thousand cubic feet, current production is generating in excess of $100,000 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.

Advantaged Natural Gas Environment in the EU
About 20% of the EU’s natural gas supply continues to come from Russia. As part of a broader plan to improve energy security and independence, the EU has stated an overarching goal to completely eliminate Russian natural gas supply by year-end 2027. The need to replace this supply, combined with gas storage levels at 34% of capacity, has created an increased demand for new sources of domestic natural gas and a near-to-mid-term increase in the price of natural gas in the EU.

AleAnna is committed to strengthening Italy's long-term energy security while supporting the global transition to cleaner and more sustainable sources of energy. 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.

Management Commentary
Marco Brun, Chief Executive Officer of AleAnna, emphasized the importance of the positive early results from Longanesi, stating: “Strong early results from Longanesi are a signal of AleAnna’s growth potential and profitability. With an advantaged environment for natural gas producers in the EU, and the opportunity to further grow our Longanesi production, we are excited about the future of the Company.”

About AleAnna
AleAnna is a technology-driven energy company focused on bringing sustainability and new supplies of low-carbon natural gas and RNG to Italy, aligning traditional energy operations with renewable solutions, with developments like the Longanesi field leading the way in supporting a responsible energy transition. With three conventional gas discoveries in Italy already made and fourteen new natural gas exploration projects planned this decade, AleAnna plays a pivotal role in Italy’s energy transition. Italy’s extensive infrastructure, featuring 33,000 kilometers of gas pipelines, three major gas storage facilities, and a strong base of existing RNG facilities, aligns with AleAnna’s commitment to sustainability. AleAnna’s RNG projects’ portfolio includes three plants under development and almost 100 projects representing approximately €1.1 billion potential investment in the next few years. AleAnna operates regional headquarters in Dallas, Texas, and Rome, Italy.

Forward-Looking Statements
The information included herein contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements, other than statements of present or historical fact included herein regarding AleAnna’s future operations, financial position, plans and objectives are forward-looking statements. When used herein, including any statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” and other similar expressions are forward-looking statements. However, not all forward-looking statements contain such identifying words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on AleAnna’s current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of AleAnna’s control. AleAnna’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date made. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to, those under “Risk Factors” in AleAnna’s definitive proxy statement/prospectus filed by AleAnna with the SEC on November 21, 2024, as well as general economic conditions; AleAnna’s need for additional capital; risks associated with the growth of AleAnna’s business; and changes in the regulatory environment in which AleAnna operates. Additional information concerning these and other factors that may impact AleAnna’s expectations and projections can be found in filings it makes with the SEC, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC’s website at www.sec.gov. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof.

Investor Relations Contact
Bill Dirks
wkdirks@aleannagroup.com

Website
https://www.aleannainc.com/

FAQ

What is AleAnna's (NASDAQ:ANNA) current daily production rate at Longanesi Field?

AleAnna is producing approximately 28 million cubic feet per day at Longanesi Field, achieving its targeted 2025 maximum production rate in less than 6 weeks.

How much revenue is AleAnna generating from Longanesi Field production?

With natural gas prices averaging $13.50/Mcf, AleAnna is generating over $100,000 in daily revenue from Longanesi Field production.

What is AleAnna's expansion strategy in Italy?

AleAnna has three conventional gas discoveries in Italy, plans for fourteen new natural gas exploration projects this decade, and is developing three RNG plants with approximately €1.1 billion in potential RNG investments.

How does the EU's natural gas policy affect AleAnna's business outlook?

The EU's goal to eliminate Russian gas imports (currently 20% of supply) by 2027 creates increased demand for domestic natural gas, benefiting AleAnna's Italian operations.

What are the key risks in AleAnna's Longanesi Field development?

The main risk is potential reservoir damage from early over-production, which the company is carefully managing while maintaining strong production rates.