Caturus launches with Mubadala Energy investment, LNG growth plan

A natural gas-focused exploration and production company with over 200,000 tier 1 net acres throughout Texas. Caturus Energy aims to materially grow net zero production to 1 Bcfe/d by 2029 through purposeful organic and inorganic development of prolific, deep, high pressure dry gas windows of the Eagle Ford and Austin Chalk formations. (Image: Caturus)

Kimmeridge has rebranded its integrated natural gas platform SoTex HoldCo as Caturus and closed a strategic equity investment from Mubadala Energy, marking the Abu Dhabi-based company’s entry into the U.S. market. The deal forms the anchor of a broader capital raise to support Caturus’ upstream expansion and development of its planned Commonwealth LNG export terminal on the U.S. Gulf Coast.

Mubadala Energy will take a 24.1% stake in Caturus as part of the funding round, which will finance growth in production, midstream infrastructure and LNG export capabilities. Caturus aims to build what it calls the nation’s only independent, fully integrated natural gas and LNG export platform, connecting production from premier U.S. resource plays with liquefaction and shipping facilities.

Caturus comprises Caturus Energy, formerly Kimmeridge Texas Gas, and Commonwealth LNG, a proposed 9.5 million tonnes per annum (mtpa) export facility near Cameron, Louisiana. Commonwealth LNG has contracted Technip Energies to provide engineering, procurement and construction services, and is targeting a final investment decision in 2025.

The company recently surpassed 600 million cubic feet equivalent per day (MMcfe/d) of net production and is aiming to reach 1 billion cubic feet equivalent per day (Bcfe/d) by 2029, with a long-term target of 3 Bcfe/d. “Crossing the 600 MMcfe/d threshold is a meaningful step toward our 1 Bcfe/d target,” said CEO Dave Lawler. “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.”

Lawler, who previously led Kimmeridge Texas Gas and served as chairman and president of BP America, will head the new company. He will be joined by Bryan Gunderson as chief financial officer and Brian Cain as chief corporate affairs officer. Gunderson previously served as CFO of Kimmeridge Texas Gas, while Cain comes from Commonwealth LNG, where he was senior vice president of government relations.

“Rebranding to Caturus reflects our continued evolution and strategy to capture value as global gas demand increases in the future,” Lawler said. “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.”

Kimmeridge managing partner Ben Dell said the Mubadala investment supports Caturus’ strategy to deliver low-cost, low-emission natural gas from the wellhead to global customers. “Together, we will drive innovation across the LNG industry through a powerful and responsible platform, contributing to a cleaner, more sustainable energy future,” Dell said.

Mubadala Energy managing director and CEO Mansoor Mohammed Al Hamed said the deal aligns with the company’s push to invest across the gas value chain in key energy hubs. “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,” he said.

Founded by Kimmeridge in 2012, Caturus’ upstream portfolio spans 200,000 acres in Texas, producing from resource plays in the Haynesville and East Texas basins. With Commonwealth LNG, the company is positioning itself to supply both domestic and international markets with responsibly sourced natural gas, backed by an integrated infrastructure and export strategy.