Mubadala Energy Enters Major U.S. Upstream Gas and LNG Operation with Kimmeridge
Summary
Equity investment into Kimmeridges SoTex HoldCo marks Mubadala Energys U.S. market entry and ambitious expansion strategyKimmeridges highly scalable upstream gas and LNG business comprises currently producing upstream gas assets and a pre-FID LNG projectABU DHABI, UAE and NEW YORK and HOUSTON, April 10, 2025 /PRNewswire/ -- Mubadala Energy, the Abu Dhabi headquartered international energy company, has today signed an agreement with Kimmeridge, the energy-focused alternative asset manager, to acquire a 24.1% interest in Kimmeridges SoTex HoldCo LLC ("SoTex"), 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-FID LNG liquefaction and export facility strategically located at the mouth of the Calcasieu Pass in Louisiana. Through SoTex, Kimmeridge is building Americas 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 current net production is over 500 MMcfe/d which is expected to grow organically to 1.5 Bcfe/d by 2031, while Commonwealth LNG is finalizing key pre-FID workstreams ahead of taking FID later this year with first offtake from the LNG plant planned for 2029.Dr Bakheet Al Katheeri, Chairman of the Mubadala Energy Board and Chief Executive Officer, UAE Investments Platform, Mubadala Investment Company, commented: "Through this partnership and our entry into the U.S., we are to further build on our leading role in building energy champions that deepen our position in the global economy. Were excited about the long-term opportunities this partnership offers, in line with our strategy to play a proactive role in the energy transition and grow our global gas portfolio. With a diversified portfolio of operated and non-operated assets spanning 11 countries, its primary geographic focus is in the Middle East and North Africa, Russia and Southeast Asia.Mubadala Energy is a wholly-owned subsidiary of Mubadala Investment Company, which is owned by the Government of Abu Dhabi. The firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proprietary research and data gathering.For more information, please visit www.Kimmeridge.com