You might recall back in May 2024, a Texas showdown between Houston’s Silverbow Resources and its largest investor, Kimmeridge, reached a dramatic conclusion with a popcorn-worthy twist no one saw coming. Following a two-year dogged pursuit by KEM to merge its Eagle Ford assets with a $2.1 billion offer for Silverbow’s larger position there, Houston-based Crescent Energy toppled the apple cart by bidding the same $2.1 billion. To which Silverbow said, “Let’s dance.”  

Reese Energy Consulting is following the latest from Kimmeridge, which has long since shrugged off that sting with a platform to combine its natural gas upstream assets with a downstream kicker to create the only independent, fully integrated natural gas and LNG export terminal near Cameron, La. Her wellhead-to-water strategy goes by the name of Caturus Energy. And she’s making noise these days.  

KEM this August closed on an equity investment by Abu Dhabi’s Mubadala Energy (its U.S. market entry) for a 24.1% stake in Caturus, which includes more than 215,000 acres in the Haynesville, a long-term target of 3 BCFE/D, and the proposed 9.5 mtpa Commonwealth LNG export terminal near Cameron, La. A FID on Commonwealth is expected before year end.

Houston-based Black Stone Minerals, one of the nation’s largest mineral and royalty interest owners across 41 states, has now joined the Caturus party with a multi-year agreement that covers its 40,000 undeveloped acres in the agreement area.