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Mubadala Energy enters US market with stake in SoTex

Mubadala Energy acquires 24.1% of Kimmeridge’s SoTex HoldCo, marking its first foray into the US gas and LNG market.
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Mubadala Energy, the international energy company based in Abu Dhabi, has finalised an agreement with energy-focused asset manager Kimmeridge to acquire a 24.1% stake in SoTex HoldCo LLC. The transaction, executed through the issuance of new equity, marks Mubadala Energy’s first operation in the US gas sector.

Two strategic assets in gas and LNG

SoTex HoldCo owns two key subsidiaries: Kimmeridge Texas Gas, which operates in unconventional gas exploration and production in the Eagle Ford region of South Texas, and Commonwealth LNG, responsible for a liquefaction and export project located at the mouth of the Calcasieu Pass in Louisiana. The Commonwealth LNG site is designed for an annual capacity of 9.3 million metric tonnes. The project is currently in the final stages of pre-investment decision preparations, with exports expected to begin by 2029.

Kimmeridge Texas Gas currently produces over 500 million cubic feet equivalent per day (MMcfe/d), with plans for organic growth to reach 1.5 billion cubic feet equivalent per day (Bcfe/d) by 2031. Through SoTex, Kimmeridge aims to establish the first fully integrated independent gas operator in the United States, delivering low-cost natural gas from wellhead to export.

Expansion of Mubadala Energy’s gas portfolio

This entry into the North American market forms part of Mubadala Energy’s international strategy to expand its presence across the gas value chain. The transaction enhances the geographic scope of the company’s gas portfolio and is built upon a mix of producing assets and development-stage infrastructure.

The US market, recognised for its depth and infrastructure quality, presents a favourable environment for asset transfers and growth transactions. This deal also positions Mubadala Energy to capitalise on global LNG demand trends, particularly in fast-growing sectors such as energy-powered data centres.

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