#USA #Houston #Kimmeridge #Mubadala Energy #Caturus

Kimmeridge and Mubadala's Strategic Partnership

Kimmeridge, a notable player in the energy sector, has made headlines with its recent milestones: closing a significant strategic equity investment from Mubadala Energy and rebranding its integrated natural gas platform as Caturus. This rebranding marks a new chapter in Kimmeridge's journey as it aims to shape the U.S. LNG and natural gas landscape.

A New Era for Kimmeridge

The rebranding to Caturus is not just a name change; it reflects Kimmeridge's vision to capture the increasing global demand for natural gas. With a strong focus on responsible sourcing and low emissions, the company intends to connect premier U.S. resource plays to international markets, melding its upstream operations with advanced midstream infrastructure. The goal is clear: to lead in offering low-cost, low-emission natural gas.

Mubadala Energy's investment signifies their entry into the U.S. market and demonstrates their ambitious expansion strategy. Holding a 24.1% equity stake in Caturus, Mubadala’s involvement is expected to bolster the capital needed for future growth endeavors and infrastructure development.

Operational Expansion

Caturus is emerging as the only independent, fully integrated natural gas and LNG export platform in the U.S. The company’s operational backbone includes Caturus Energy, previously Kimmeridge Texas Gas, and the planned Commonwealth LNG terminal in Louisiana, set to export 9.5 million tons of LNG annually.

The state-of-the-art Commonwealth facility aims to advance its development with Technip Energies contracted to handle engineering, procurement, and construction. With a focus on achieving the final investment decision (FID) by late 2025, Commonwealth is positioning itself as a significant player in the LNG export market.

Leadership Team

Caturus's leadership will see continuity with experienced executives at the helm. David Lawler will transition from CEO of Kimmeridge Texas Gas to the CEO of Caturus. Having previously led BP America's operations, Lawler brings a wealth of expertise in energy management and development. Alongside him will be Bryan Gunderson as CFO and Brian Cain as Chief Corporate Affairs Officer, both of whom have extensive backgrounds in the energy sector and corporate governance.

In response to the rebranding and investment, Lawler stated, “This reflects our strategic evolution aimed at capitalizing on the growing gas demand globally. With world-class investors like Mubadala Energy joining us, Caturus is poised to lead with a commitment to operational excellence and environmental responsibility.”

The Future of Caturus

Surpassing a production milestone of 600 million cubic feet equivalent per day (MMcfe/d), Caturus is strategically positioned to reach long-term goals of 1 billion cubic feet equivalent per day (Bcfe/d) by 2029, eventually aspiring to achieve up to 3 Bcfe/d. This achievement highlights the strength and scalability of the company's operations, paving the way for Caturus to emerge as a top gas producer on the U.S. energy landscape.

Mansoor Mohammed Al Hamed, CEO of Mubadala Energy, emphasized the strategic importance of this partnership, aligning with Mubadala's vision of supporting energy security and sustainability initiatives. The collaboration between Caturus and Mubadala Energy ensures an innovative approach toward enhancing the LNG landscape through responsible energy practices.

Conclusion

In summary, Kimmeridge's transition to Caturus, along with Mubadala Energy's investment, marks a significant milestone in the integrated natural gas and LNG sector. With a clear roadmap focused on sustainable practices and operational excellence, Caturus is set to transform the way natural gas and LNG are sourced, processed, and delivered to meet both domestic and international market demands.