Kimmeridge also signed a definitive multi-year transportation agreement with Kinder Morgan Texas Pipeline LLC (KMTP) to secure midstream takeaway for its Eagle Ford natural gas, enabling KTG to deliver natural gas across multiple LNG facilities along the Gulf Coast. Combined with Kimmeridge's previously announced investment in Commonwealth, an LNG export terminal project strategically located on the Calcasieu River at the Gulf of Mexico near Cameron, Louisiana, these investments deepen Kimmeridge's South Texas foothold, and will position KTG to deliver natural gas/LNG from the wellhead to the water.
Ben Dell, Co-Founder and Managing Partner of Kimmeridge, said: “Our acquisition of these upstream assets and agreement with KMTP will meaningfully advance KTG's ambitions of becoming fully integrated from source to sink, providing reliable, secure and clean energy to global markets. Kimmeridge has always sought to be a pioneer in the energy space, first with the ideation and implementation of a new E&P business model, followed by the formation of Civitas Resources, Colorado's first carbon-neutral energy company, and now as we build a leading international LNG platform. Through our investments in South Texas, we believe we will be able to deliver net-zero LNG, where all Scope 1 and 2 emissions will be offset by a combination of mitigation, sequestration and carbon removal.”
