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Therefore, Mubadala intends to acquire 24.1% of Kimmeridge's SoTex HoldCo by financing the issuance of additional shares. SoTex has two companies in its portfolio.
Kimmeridge Texas Gas, which runs an unconventional (shale) gas operation in the Eagle Ford Province (Southern Texas), and Commonwealth LNG's 9.3 mtpa Commonwealth LNG initiative (Louisiana), slated to commence in 2029. The LNG project is set to obtain final investor approval this year.
Kimmeridge Texas Gas is currently producing more than 500 Bcf/d and anticipates organic growth to 1.5 Bcf/d by 2031. This marks Mubadala's initial investment agreement in the United States.
The agreement will be finalized following regulatory consent.
source: reuters.com
Kimmeridge Texas Gas, which runs an unconventional (shale) gas operation in the Eagle Ford Province (Southern Texas), and Commonwealth LNG's 9.3 mtpa Commonwealth LNG initiative (Louisiana), slated to commence in 2029. The LNG project is set to obtain final investor approval this year.
Kimmeridge Texas Gas is currently producing more than 500 Bcf/d and anticipates organic growth to 1.5 Bcf/d by 2031. This marks Mubadala's initial investment agreement in the United States.
The agreement will be finalized following regulatory consent.
source: reuters.com