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