(Source: Shutterstock)
Ex-BP America chairman and president Dave Lawler has joined South Texas gas producer Kimmeridge Texas Gas (KTG) as its new CEO, aiming to turn the Eagle Ford operator into a firm supplier to LNG developer Commonwealth LNG.
In addition, KTG’s owner, Kimmeridge Energy Management, closed a follow-on investment in Commonwealth with plans to build a 1.27 Bcf/d LNG export facility in Cameron, Louisiana, at the Texas-Louisiana border.
The follow-on brings Kimmeridge’s equity position to more than 90%, the firm reported June 25.
The plant is among those already approved by the Federal Energy Regulatory Commission (FERC), although not yet under construction, thus not affected by the White House’s current ban on issuing additional LNG permits.
Kimmeridge recently bid to buy Eagle Ford operator SilverBow Resources and merge KTG into it. But it did not re-bid for SilverBow, which agreed to merge with Eagle Ford producer Crescent Energy instead.
Lawler, who left BP in 2023, replaces Mike Wieland, CEO of KTG, which was formed from Laredo Energy Operating in 2022.
Ben Dell, Kimmeridge managing partner, said, "[Lawler] has shaped and led large-scale, best-in-class operations that align with Kimmeridge's commitment to enhancing capital efficiency and reaching net-zero operations.”
KTG has approximately 148,000 net acres in South Texas in Webb, La Salle, McMullen and Karnes counties. Production is some 400 MMcfe/d.
Lawler said he hopes to advance “the company's plans of becoming a fully integrated provider of LNG from wellhead to water, including through our expanded partnership with Commonwealth, with an option for net-zero cargoes.”
Prior to joining BP and its onshore U.S. E&P unit BPX Energy, Lawler was COO for SandRidge Energy; CEO and president of PostRock Energy Corp.; and worked for Shell E&P in engineering and operations. A petroleum engineer, his early career was in production engineering for ConocoPhillips predecessor Conoco and in drilling engineering for Burlington Resources.
Farhad Ahrabi, Commonwealth CEO and president, said, "We are delighted to integrate into the Kimmeridge team as we work towards FID in 2025. Kimmeridge shares our vision of bringing a differentiated offering to the LNG market and we look forward to commencing delivery to our customers in 2028."
Recommended Reading
Trump Taps Ex-Congressman Zeldin to Run Environmental Protection Agency
2024-11-11 - U.S. President-elect Donald Trump said on Nov. 11 he will appoint Republican former Congressman Lee Zeldin, who frequently voted against legislation on green issues, to run the Environmental Protection Agency.
US Grid Operator Faces New Complaint Over Power Supply Auction
2024-11-19 - PJM Interconnection, the largest U.S. grid operator, is being accused of unfairly awarding high payments to power plants and pushing up electricity costs for homes and businesses.
Russia Declares Federal Emergency Over Black Sea Oil Spill
2024-12-26 - Russia declared a federal emergency on Dec. 26 over an oil spill in the Black Sea.
BLM Sets Aside Land for Solar Project Review in Utah
2024-12-02 - The project proposed for development by Hanwha Energy Corp.’s 174 Power Global could generate an estimated 600 megawatts of solar electricity.
New US Solar Tariffs on Southeast Asia to Raise Prices, Cut Profit Margins
2024-12-02 - A new round of U.S. solar panel import tariffs on Southeast Asian producers is expected to raise consumer prices and cut into producer profit margins.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.