Mubadala Energy, the Abu Dhabi-headquartered international energy company, has signed an agreement with Kimmeridge, the energy-focused alternative asset manager, to acquire a 24.1 percent interest in Kimmeridge’s SoTex HoldCo, via the issuance of new equity.
SoTex holds two portfolio companies: Kimmeridge Texas Gas, which operates an upstream unconventional gas business in the Eagle Ford in South Texas, and Commonwealth LNG, which owns the 9.3 million metric tons per year (MTPA), pre-financial investment decision (FID) LNG liquefaction and export facility located at the mouth of the Calcasieu Pass in Louisiana. Through SoTex, Kimmeridge is building America’s first integrated gas independent to deliver low-cost natural gas from wellhead to water and meet burgeoning demand for responsibly produced LNG across global markets.
Kimmeridge Texas Gas’ net production is more than 500 million cubic feet per day which is expected to grow organically to 1.5 billion cubic fee
