Lawler brings 30+ years of experience in the
sector with an expansive track record of growing energy platforms,
responsibly expanding production and implementing effective
emissions reduction strategies
Commonwealth on track to reach final
investment decision on best-in-class LNG export facility by the
first half of 2025 and to commence deliveries in 2028
HOUSTON and NEW
YORK, June 25, 2024 /PRNewswire/ -- Kimmeridge,
an alternative asset manager focused on the energy sector, today
announced that its affiliate, Kimmeridge Texas Gas ("KTG"), has
appointed David Lawler as Chief
Executive Officer, effective immediately. Mr. Lawler will advance
KTG's efforts to become a fully integrated provider of LNG from
well-head to water – providing reliable, secure and clean energy to
global markets.
Mr. Lawler brings more than 30 years of experience in the energy
sector, with a distinguished track record across each of the
positions he has held. Most recently, he served as Chairman and
President of BP America, which accounted for nearly 40% of
corporate global revenue. While at BP America, Mr. Lawler
spearheaded the formation and implementation of an integrated
strategy to achieve net-zero production by 2050. In addition, Mr.
Lawler served as CEO of BPX Energy, BP's onshore unconventional and
midstream business. He led the $10.5
billion acquisition of BHP's onshore assets, BP's largest
acquisition in more than 20 years, and built a world class
operating team that delivered significant year-on-year
improvements, including growing production over 125% while
significantly reducing emissions in the Permian Basin.
To further accelerate KTG's growth trajectory, Kimmeridge also
announced the closing of a follow-on control investment in
Commonwealth LNG ("Commonwealth"). The funding will support a 9.5
million tons per annum (mtpa) LNG export facility in Cameron, Louisiana, through anticipated final
investment decision (FID) in 1H 2025, and will raise Kimmeridge's
equity ownership in Commonwealth to over 90%.
Ben Dell, Managing Partner of
Kimmeridge and Director at KTG, said, "We welcome David to the KTG
team as it enters a compelling new era of growth, while
accelerating carbon neutrality through the development of
environmentally responsible, low-cost energy assets. David 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. Additionally, we would like to thank
Mike Wieland for all his
contributions as CEO of KTG since September
2022, helping to build it into the high-quality, scaled
asset it is today."
Mr. Dell continued, "We are excited to take a controlling
interest in Commonwealth LNG as we integrate our business from
well-head to water, and look forward to the completion of a
best-in-class LNG export facility in Louisiana."
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."
David Lawler, CEO of KTG, said,
"I am very pleased to join the KTG team and look forward to
advancing the Company's plans of becoming a fully integrated
provider of LNG from well-head to water, including through our
expanded partnership with Commonwealth, with an option for net zero
cargoes. When produced responsibly, LNG is a reliable, easily
accessible energy source. In the future, KTG will export clean
energy across the world, helping economies accelerate their
transition ambitions."
About David Lawler
In addition to his roles at BP and BPX, Mr. Lawler served as
Executive Vice President and Chief Operating Officer at SandRidge
Energy, a US-based oil and gas independent. Prior to SandRidge, he was Chief Executive Officer and
President of PostRock Energy Corporation. He also worked for Shell
E&P Co. as an engineering and operations manager with full
P&L and HSE responsibility for the South Tex and Mobile Bay
E&P assets. Mr. Lawler began his career as a Production
Engineer with Conoco and as a Drilling Engineer with Burlington
Resources.
Mr. Lawler graduated from the Colorado
School of Mines with a Bachelor of Science in Petroleum
Engineering in 1990 before earning an MBA from Tulane University in 2003. He is also a Trustee of
the Colorado School of Mines, appointed
by Colorado Governor Jared Polis in 2022.
About Kimmeridge
Founded in 2012 by Ben Dell, Dr.
Neil McMahon and Henry Makansi, Kimmeridge is an alternative
asset manager focused on the energy sector. The firm is
differentiated by its direct investment approach, deep technical
knowledge, active portfolio management, proven sustainability track
record and proprietary research and data gathering.
About Kimmeridge Texas Gas
Kimmeridge Texas Gas is a conventional producer of natural gas
committed to accelerating carbon neutrality by developing
environmentally responsible, low-cost energy assets. With
approximately 148,000 net acres in Texas overlaying the dry gas window of the
Eagle Ford Shale within Webb,
La Salle, McMullen and Karnes counties, the Company produces
approximately 400 million cubic feet equivalent of natural gas and
oil per day, selling into the South
Texas market with access to Mexican export channels, to LNG
terminals for global sales, and into pipelines directly servicing
Gulf Coast petrochemical facilities.
About Commonwealth LNG
Commonwealth LNG is a 9.5 mtpa liquefied natural gas (LNG)
export terminal project located on the Calcasieu River at
the Gulf of Mexico near Cameron, Louisiana. The project's leadership team is
committed to building a world-class LNG facility by staying
relentlessly focused on managing risk and lowering capital
cost.
Media
Daniel Yunger /
Hallie Wolff / Emma Cloyd
Kekst-Kimmeridge@kekstcnc.com
917.574.8582 / 917.842.1127
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SOURCE Kimmeridge