Latest news with #MansoorMohamedAlHamed
Zawya
14-04-2025
- Business
- Zawya
Mubadala Energy supports global expansion plans via stake acquisition deal with Kimmeridge
UAE: Mubadala Energy has signed a deal with Kimmeridge, the energy-focused alternative asset manager, to acquire a 24.10% interest in Kimmeridge's SoTex HoldCo LLC (SoTex). The transaction, which will be implemented via the issuance of new equity, marks Mubadala Energy's entry into the US market, according to a press release. This acquisition aligns with the UAE-based group's global expansion plans, as it supports its growth plans to invest across the gas value chain in key energy hubs worldwide. Meanwhile, the transaction is subject to customary regulatory filings and approvals before closing. Through SoTex, Kimmeridge is building America's first integrated gas independent to secure low-cost natural gas from wellhead to water and meet increasing demand for responsibly produced LNG across global markets. Bakheet Al Katheeri, Chairman of Mubadala Energy, commented: " As the company's first major investment in the U.S., this transaction positions Mubadala Energy for accelerated growth across the gas value chain in one of the world's most important and attractive energy hubs." Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: "The investment also highlights our strong position to accelerate our expansion across the gas value chain and build on our strategic international portfolio.'
Yahoo
11-04-2025
- Business
- Yahoo
Mubadala Energy enters US market with 24.1% stake in Kimmeridge's SoTex
Mubadala Energy, based in Abu Dhabi, has entered the US upstream gas and liquefied natural gas (LNG) sector by acquiring a 24.1% stake in SoTex HoldCo through new equity issuance. The move enhances Mubadala Energy's global gas portfolio and aligns with the United Arab Emirates' (UAE) 2050 net-zero ambition. SoTex, owned by Kimmeridge, includes Kimmeridge Texas Gas and Commonwealth LNG. Kimmeridge Texas Gas operates in the Eagle Ford, South Texas, while Commonwealth LNG owns a 9.3 million tonnes per annum LNG facility at Calcasieu Pass, Louisiana. Mubadala Energy CEO and managing director Mansoor Mohamed Al Hamed said: "As our first major investment in the US this transaction offers a significant platform for future growth in one of the world's most important energy hubs. 'The investment also highlights our strong position to accelerate our expansion across the gas value chain and build on our strategic international portfolio. We are 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." Kimmeridge aims to create an integrated gas independent in the US to meet global LNG demand. Kimmeridge Texas Gas currently produces more than 500 million cubic equivalent per day, with plans to grow to 1.5 billion cubic feet equivalent per day by 2031. Kimmeridge managing partner Ben Dell said: "Mubadala's investment and unwavering support represent a significant milestone in the realisation of our wellhead-to-water strategy, accelerating Commonwealth LNG's path to final investment decision (FID)." Commonwealth LNG is finalising pre-FID workstreams, with the first LNG offtake expected in 2029. Mubadala Energy's investment aligns with its strategy to invest across the gas value chain globally. The transaction is pending customary regulatory approvals before closing. In May last year, Mubadala Energy made a new gas discovery at its Tangkulo-1 exploration well in the South Andaman block offshore North Sumatra, Indonesia. The well was drilled in 1,200m of water to a total depth of 3,400m and successfully encountered a gas column measuring 80m within an Oligocene-aged sandstone reservoir. Mubadala Energy operates the South Andaman Gross Split production sharing contract with an 80% working interest, while Harbour Energy holds the remaining 20% as a joint venture partner. "Mubadala Energy enters US market with 24.1% stake in Kimmeridge's SoTex" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Gulf Business
11-04-2025
- Business
- Gulf Business
Mubadala Energy makes first major US investment with stake in Kimmeridge's SoTex
Image: Mubadala Energy/ For illustrative purposes Mubadala Energy, the international energy arm of Abu Dhabi's Mubadala Investment Company, has signed an agreement to acquire a 24.1 per cent interest in Kimmeridge's SoTex HoldCo, marking the company's first major investment in the US. The stake will be acquired via the issuance of new equity, according to a joint statement issued on Thursday. SoTex owns two portfolio companies: Kimmeridge Texas Gas, which operates an upstream unconventional gas business in South Texas's Eagle Ford basin, and Commonwealth LNG, which is developing a 9.3 million metric tonnes per year (MTPA) pre-final investment decision (FID) liquefaction and export facility located at the mouth of the Calcasieu Pass in Louisiana. The move is part of Kimmeridge's strategy to build the first integrated gas independent in the US, delivering low-cost, responsibly-produced natural gas from wellhead to water to meet growing global demand. Kimmeridge Texas Gas is currently producing over 500 million cubic feet equivalent per day (MMcfe/d), with plans to organically grow that to 1.5 billion cubic feet equivalent per day (Bcfe/d) by 2031. Commonwealth LNG is finalising key pre-FID workstreams and aims to reach FID later this year, with first offtake scheduled for 2029. We are delighted to announce our agreement with Kimmeridge, the energy-focused alternative asset manager, to acquire a 24.1% interest in SoTex HoldCo. — Mubadala Energy (@MubadalaEnergy) Move aligns with Mubadala Energy's strategy to support the energy transition 'This transaction positions The investment also aligns with the UAE's 2050 net zero ambitions and Mubadala Energy's strategy to support the energy transition by investing in major gas projects. 'As our first major investment in the US, this transaction offers a significant platform for future growth in one of the world's most important energy hubs,' added Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy. 'We're 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.' Ben Dell, managing partner of Kimmeridge, called Mubadala's investment a 'significant milestone' in accelerating Commonwealth LNG's path to FID. 'We extend our sincere gratitude to the Mubadala Energy team for their invaluable partnership and collaboration as we work together to drive energy innovation and accelerate the transition to a cleaner, more sustainable energy future,' he said. With US LNG expected to make up roughly 33 per cent of the global market by 2050, the move is seen as a strategic bet on one of the most dynamic regions in global gas. The Gulf Coast region's infrastructure and liquid M&A environment further bolster its long-term investment appeal, especially amid rising energy demand linked to sectors such as AI-driven data centres. The transaction remains subject to customary regulatory filings and approvals before closing.
Trade Arabia
10-04-2025
- Business
- Trade Arabia
Mubadala enters US upstream market with Kimmeridge deal
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% interest in its key unit SoTex HoldCo via the issuance of new equity. Marking Mubadala Energy's entry into the US market, this significant equity investment is an important moment in Mubadala Energy's international expansion. It bolsters the company's ambitious growth plans to invest across the gas value chain in key energy hubs around the world and acts as a major addition to its existing global gas portfolio. Moreover, with the company's goal of playing a proactive role in the energy transition by supporting major gas projects as a bridge to a lower carbon energy future, this investment is in line with the UAE's 2050 net zero ambition. 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 tonnes 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 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' 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 finalising 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 CEO, UAE Investments Platform, Mubadala Investment Company, said: "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." "We are delighted that Mubadala Energy has finalized this equity investment with Kimmeridge to enable the development of key gas projects in the US Gulf Coast. As the company's first major investment in the US, this transaction positions Mubadala Energy for accelerated growth across the gas value chain in one of the world's most important and attractive energy hubs," he stated. On the investment, Managing Director and CEO Mansoor Mohamed Al Hamed said: "As our first major investment in the US this transaction offers a significant platform for future growth in one of the world's most important energy hubs." "The investment also highlights our strong position to accelerate our expansion across the gas value chain and build on our strategic international portfolio. We're 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," he stated. Ben Dell, Managing Partner of Kimmeridge, said: "Mubadala's investment and unwavering support represent a significant milestone in the realization of our wellhead-to-water strategy, accelerating Commonwealth LNG's path to Final Investment Decision." "We extend our sincere gratitude to the Mubadala Energy team for their invaluable partnership and collaboration as we work together to drive energy innovation and accelerate the transition to a cleaner, more sustainable energy future," he added. With US LNG supply expected to grow to approximately 33% of the global market by 2050, this investment is a strategic play in one of the world's most important gas hubs.
Khaleej Times
10-04-2025
- Business
- Khaleej Times
Mubadala Energy buys 24.1% stake in major US upstream gas and LNG operator
Mubadala Energy, the Abu Dhabi-headquartered international energy company, on Thursday signed an agreement with Kimmeridge, the energy-focused alternative asset manager, to acquire a 24.1 per cent interest in Kimmeridge's SoTex HoldCo LLC, 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 tonnes 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 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' 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 finalising 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 US, we are to further build on our leading role in building energy champions that deepen our position in the global economy. We are delighted that Mubadala Energy has finalised this equity investment with Kimmeridge to enable the development of key gas projects in the US Gulf Coast. As the company's first major investment in the US, this transaction positions Mubadala Energy for accelerated growth across the gas value chain in one of the world's most important and attractive energy hubs.' Marking Mubadala Energy's entry into the US market, this equity investment bolsters the company's ambitious growth plans to invest across the gas value chain in key energy hubs around the world and acts as a major addition to its existing global gas portfolio. Moreover, with the company's goal of playing a proactive role in the energy transition by supporting major gas projects as a bridge to a lower carbon energy future, this investment is in line with the UAE's 2050 net zero ambition. Mansoor Mohamed Al Hamed, Managing Director and CEO, Mubadala Energy, said: 'As our first major investment in the US this transaction offers a significant platform for future growth in one of the world's most important energy hubs. The investment also highlights our strong position to accelerate our expansion across the gas value chain and build on our strategic international portfolio. We're 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.' Ben Dell, managing partner of Kimmeridge, added: 'Mubadala's investment and unwavering support represent a significant milestone in the realization of our wellhead-to-water strategy, accelerating Commonwealth LNG's path to Final Investment Decision. We extend our sincere gratitude to the Mubadala Energy team for their invaluable partnership and collaboration as we work together to drive energy innovation and accelerate the transition to a cleaner, more sustainable energy future.' With US LNG supply expected to grow to approximately 33 per cent of the global market by 2050*, this investment is a strategic play in one of the world's most important gas hubs. In addition, world class infrastructure and a highly liquid M&A market ensure attractive long-term prospects in the region, supported by energy demand trends in areas such as AI data centre development.
