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Kimmeridge, an funding agency targeted on the vitality sector, has introduced that its affiliate, Kimmeridge Texas Fuel (KTG), has signed a definitive settlement to amass sure upstream property from a non-public vendor, because it expands its footprint within the Eagle Ford shale play. These property, which embrace roughly 30 000 acres and present manufacturing of 65 million ft3-e/d, have a powerful diploma of overlap with KTG’s current 75 000-acre place within the play, providing important scale and operational synergies. KTG anticipates persevering with its multi-rig programme targeted 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 amenities alongside the Gulf Coast. Mixed with Kimmeridge’s beforehand introduced funding in Commonwealth, an LNG export terminal challenge strategically positioned 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 Accomplice of Kimmeridge, stated: “Our acquisition of those upstream property and settlement with KMTP will meaningfully advance KTG’s ambitions of changing into absolutely built-in from supply to sink, offering dependable, safe and clear vitality to world 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 Sources, Colorado’s first carbon-neutral vitality firm, and now as we construct a number one worldwide LNG platform. By way of our investments in South Texas, we imagine we will ship net-zero LNG, the place all Scope 1 and a couple of emissions can 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/
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