Aleanna Inc's Business Segments

AleAnna, Inc. is a natural gas resource company focused on supplying natural gas to Europe through onshore conventional natural gas exploration and renewable natural gas development in Italy. The company holds a 33.5% working interest in the Longanesi field, one of Italy's largest modern natural gas discoveries located in the Po Valley, in partnership with operator Padana. AleAnna owns wholly-owned concessions, permits, and pending applications for additional exploration prospects across Italy, supported by proprietary 3D seismic reservoir imaging. In 2023, AleAnna launched a renewable natural gas business targeting carbon-negative gas from animal and agricultural waste, acquiring three renewable natural gas plant projects in Italy for approximately $9.8 million. The company has invested about $250 million over 15 years in its properties, including Longanesi, Gradizza, and Trava, which contain approximately 25.8 billion cubic feet of net recoverable proved natural gas reserves. AleAnna has drilled and tested multiple wells in the Longanesi field, achieving first production in March 2025 using a temporary processing facility, with a permanent facility under construction. AleAnna entered a gas sale agreement with Shell Energy Europe Limited for the exclusive purchase of its natural gas share. The company's management team includes former executives from Shell, Eni Ecofuels, and Exxon. AleAnna is headquartered in Dallas, Texas, with offices in Rome and Milan.

The Company operates through two reportable segments as reviewed by the Chief Executive Officer and Executive Director. The Conventional segment involves natural gas exploration and production activities conducted by AleAnna Italia, focusing on conventional natural gas from onshore exploration and development in Italy. The Renewable segment includes renewable natural gas (RNG) and electricity production activities conducted by AleAnna Renewable and its RNG subsidiaries, primarily generating electricity from RNG derived from animal and agricultural waste. Reconciling items encompass corporate financing, investing activities, and administrative functions that support overall operations but are not classified as a reportable segment. The Chief Operating Decision Maker evaluates segment performance using segment operating income (loss) and adjusted EBITDA, a non-GAAP financial measure. All revenue is generated from external customers located in Italy, and all assets, except corporate cash, are located in Italy.