Kimmeridge, an funding agency centered on the vitality sector, has introduced that its affiliate, Kimmeridge Texas Fuel (KTG), has signed a definitive settlement to amass sure upstream belongings from a non-public vendor, because it expands its footprint within the Eagle Ford shale play. These belongings, which embrace roughly 30 000 acres and present manufacturing of 65 million ft3-e/d, have a powerful diploma of overlap with KTG’s present 75 000-acre place within the play, providing important scale and operational synergies. KTG anticipates persevering with its multi-rig programme centered on the Eagle Ford and Austin Chalk, with a goal of delivering over 500 million ft3-e/d web on a professional forma foundation in 2026.
Kimmeridge additionally signed a definitive multi-year transportation settlement with Kinder Morgan Texas Pipeline LLC (KMTP) to safe midstream takeaway for its Eagle Ford pure fuel, enabling KTG to ship pure fuel throughout a number of LNG services alongside the Gulf Coast. Mixed with Kimmeridge’s beforehand introduced funding in Commonwealth, an LNG export terminal challenge strategically situated on the Calcasieu River on the Gulf of Mexico close to Cameron, Louisiana, these investments deepen Kimmeridge’s South Texas foothold, and can place KTG to ship pure fuel/LNG from the wellhead to the water.
Ben Dell, Co-Founder and Managing Companion of Kimmeridge, stated: “Our acquisition of those upstream belongings and settlement with KMTP will meaningfully advance KTG’s ambitions of turning into totally built-in from supply to sink, offering dependable, safe and clear vitality to international markets. Kimmeridge has all the time sought to be a pioneer within the vitality area, first with the ideation and implementation of a brand new E&P enterprise mannequin, adopted by the formation of Civitas Assets, Colorado’s first carbon-neutral vitality firm, and now as we construct a number one worldwide LNG platform. Via our investments in South Texas, we imagine we will ship net-zero LNG, the place all Scope 1 and a pair of emissions might be offset by a mix of mitigation, sequestration and carbon removing.”
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/12102023/kimmeridge-texas-gas-takes-steps-to-deliver-lng-on-net-zero-basis/