Mubadala Energy Makes Bold U.S. Market Entry with Kimmeridge Partnership
Deal News | Apr 10, 2025 | PR Newswire Cision Mubadala Energy
Mubadala Energy, headquartered in Abu Dhabi, has marked its entry into the U.S. market with a strategic equity investment in Kimmeridge's SoTex HoldCo LLC, acquiring a 24.1% interest. This investment is pivotal in Mubadala's expansion strategy, particularly in the realm of upstream gas and LNG operations. SoTex's assets include Kimmeridge Texas Gas, operating in the Eagle Ford of South Texas, and the pre-FID Commonwealth LNG project in Louisiana, with plans for first offtake by 2029. The partnership promises to enhance the development of key gas projects in the U.S. Gulf Coast and aligns with Mubadala's commitment to a lower carbon future. Dr. Bakheet Al Katheeri and Mansoor Mohamed Al Hamed from Mubadala and Ben Dell of Kimmeridge emphasized the investment's role in advancing global energy transitions and establishing Mubadala's presence in key energy markets. The deal is pending regulatory approvals.
Sectors
- Energy
- Private Equity
Geography
- United States – The article focuses on Mubadala Energy's investment in U.S.-based Kimmeridge operations, marking its entry into the U.S. market.
- United Arab Emirates – Mubadala Energy is headquartered in Abu Dhabi, UAE, which plays a strategic role in the investment's origin and overall strategy.
Industry
- Energy – The article discusses Mubadala Energy's investment in the gas and LNG sectors through Kimmeridge's U.S. upstream operations.
- Private Equity – Mubadala Energy's transaction involves an equity investment, typical of private equity movements in energy sectors.
Financials
- 24.1% – Mubadala Energy's equity interest acquired in Kimmeridge's SoTex HoldCo LLC.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mubadala Energy | Investor | Company | An international energy company headquartered in Abu Dhabi, focusing on the development and expansion of global gas portfolios. |
| Kimmeridge | Target Company | Company | An energy-focused alternative asset manager overseeing the SoTex assets in the U.S. gas and LNG sectors. |
| SoTex HoldCo LLC | Portfolio Company | Company | Kimmeridge's holding company representing its U.S. gas and LNG operations including Kimmeridge Texas Gas and Commonwealth LNG. |
| Commonwealth LNG | Portfolio Company | Company | A company planning to develop a 9.3 MTPA LNG facility in Louisiana, part of Kimmeridge's assets under SoTex. |
| Mubadala Investment Company | Parent Company | Company | The parent company of Mubadala Energy, owned by the Government of Abu Dhabi. |