Abu Dhabi wealth fund Mubadala Energy said Thursday it would invest in Kimmeridge Energy Management Co. LLC’s Commonwealth LNG project and its upstream business in the Eagle Ford Shale.
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Mubadala agreed to acquire a 24.1% stake in Kimmeridge’s SoTex HoldCo LLC, which holds the assets. The acquisition price was not disclosed, but it marks Mubadala’s entry into the U.S. energy market.
“As our first major investment in the U.S., this transaction offers a significant platform for future growth in one of the world’s most important energy hubs,” said Mubadala CEO Mansoor Mohamed Al Hamed.