Kimmeridge Closes Strategic Equity Investment from Mubadala Energy and Rebrands Integrated Natural Gas Platform as Caturus

• Caturus is building the nation's leading integrated natural gas and LNG company, with a unique wellhead-to-water strategy that will deliver responsibly sourced, low-emission fuel to global markets
• Caturus builds on momentum and closes Mubadala Energy's anchor investment as part of broader capital raise
• Caturus crosses 600 MMcfe/d threshold with long-term target of 3 Bcfe/d; LNG export facility expected to reach FID in 2025
• Senior leadership team to include: David Lawler, current CEO of Kimmeridge Texas Gas, as Chief Executive Officer; Bryan Gunderson, current CFO of Kimmeridge Texas Gas as Chief Financial Officer; and Brian Cain as Chief Corporate Affairs Officer

NEW YORK and ABU DHABI, UAE and HOUSTON, Aug. 7, 2025 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector, today announced two significant milestones for its integrated natural gas platform: the closing of a strategic equity investment from Mubadala Energy and the rebranding of SoTex HoldCo to Caturus.

The previously announced equity investment marks Mubadala Energy's U.S. market entry and reflects its ambitious expansion strategy. The rebranding is a major milestone in the platform's journey to deliver low-cost, low-emission natural gas from premier U.S. resource plays to global markets, connecting responsibly sourced fuel with midstream infrastructure and best-in-class LNG export capabilities.

Caturus is building the only independent, fully integrated natural gas and LNG export platform in the U.S. through a combination of its upstream operations under Caturus Energy, formerly Kimmeridge Texas Gas, and via Commonwealth LNG ("Commonwealth"), a 9.5 mtpa liquefied natural gas export terminal to be located near Cameron, Louisiana. Commonwealth most recently announced it has contracted Technip Energies to provide engineering, procurement and construction services to build its state-of-the-art facility and anticipates announcing final investment decision later this year.

Caturus Leadership

Dave Lawler previously served as Chief Executive Officer of Kimmeridge Texas Gas and will now serve as CEO of Caturus. Mr. Lawler previously was Chairman and President of BP America and led BPX Energy, BP's U.S. onshore oil and gas business. The Caturus leadership team will also include Bryan Gunderson as Chief Financial Officer and Brian Cain as Chief Corporate Affairs Officer. Mr. Gunderson most recently served as CFO of Kimmeridge Texas Gas and brings more than two decades of experience in finance leadership roles across public and private energy companies.  Additionally, Brian Cain, having served as Senior Vice President of Government Relations at Commonwealth LNG, will become Caturus' Chief Corporate Affairs Officer. Mr. Cain has more than 20 years of political, media, and energy policy experience, including service on public company executive teams. 

Dave Lawler, CEO of Caturus, said, "Rebranding to Caturus reflects our continued evolution and strategy to capture value as global gas demand increases in the future. With the addition of world-class investors like Mubadala Energy, disciplined capital deployment, continued operational excellence and a commitment to environmental responsibility, Caturus is well-positioned to become a differentiated leader in the global LNG landscape and energy transition."

Mubadala Energy Investment

The Mubadala Energy investment represents the cornerstone of a broader capital raise led by Kimmeridge to support the growth of Caturus. Mubadala's contribution reflects a 24.1% equity stake in Caturus. The capital raise will fund continued strategic growth, infrastructure development, and support the buildout of the LNG export facility at Commonwealth.

"Mubadala Energy's investment is a strong endorsement of our strategy at Caturus, and we are excited to collaborate on bringing the only independent, fully integrated natural gas company to life. Together, we will drive innovation across the LNG industry through a powerful and responsible platform, contributing to a cleaner, more sustainable energy future," said Ben Dell, Managing Partner at Kimmeridge.

Commenting on this important milestone, Mansoor Mohammed Al Hamed, Managing Director & CEO of Mubadala Energy, said: "Today's announcement is further evidence of our international growth strategy in action. The platform's integrated and responsible approach aligns with our plans to invest across the gas value chain in key global energy hubs where we can play a proactive role in balancing energy security and transition priorities while creating long-term value for our shareholder. We look forward to continuing our work alongside the Caturus and Kimmeridge teams."

Production Milestone

Caturus also announced it has surpassed a rate of 600 million cubic feet equivalent per day (MMcfe/d) of net production. This milestone reflects the strength of the platform's base and positions the company to achieve its long-term development plans of reaching 1 billion cubic feet equivalent per day (Bcfe/d) by 2029.  Dave Lawer noted that "Crossing the 600 MMcfe/d threshold is a meaningful step toward our 1 Bcfe/d target, and long-term target of 3 Bcfe/d." Mr. Lawler added that "It is a testament to our team's capacity and deep experience to scale safely and efficiently across a competitive basin, as we prepare to become one of the top gas producers in the U.S."

About Caturus

Caturus is building America's leading integrated natural gas and LNG company to deliver responsibly sourced, low-emission fuel to domestic and international markets. The platform was founded by Kimmeridge and comprises Caturus Energy, formerly Kimmeridge Texas Gas, an upstream producer with 600 MMcfe/d across 200,000 acres in Texas, and Commonwealth LNG, a 9.5 mtpa liquefied natural gas export terminal project located on the U.S. Gulf Coast near Cameron, Louisiana.  www.caturus.com 

About Kimmeridge

Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an alternative asset manager focused on the energy sector. The firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proprietary research, and data gathering. www.kimmeridge.com 

About Mubadala Energy

Mubadala Energy is an international energy company, headquartered in Abu Dhabi. With a diversified portfolio of operated and non-operated assets spanning 11 countries, its primary geographic focus is in the Middle East and North Africa, Russia and Southeast Asia.

Mubadala Energy is a wholly-owned subsidiary of Mubadala Investment Company, which is owned by the Government of Abu Dhabi. The company's portfolio is around 70 per cent gas, with an average working interest production of approximately 370,000 barrels of oil equivalent per day.

In line with Mubadala Energy's commitment to play an active role in the energy transition, the company is expanding across the gas value chain and actively pursuing opportunities in new energy sectors. www.mubadalaenergy.com 

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SOURCE Kimmeridge