Caturus HoldCo LLC is the ultimate holding and governance vehicle of the Caturus integrated natural gas and LNG platform, headquartered in Houston, Texas. Originally incorporated as Kimmeridge SoTex HoldCo LLC, it was rebranded as Caturus HoldCo LLC in August 2025, following the closing of Mubadala Energy's strategic equity investment. It is the issuing entity for investor relations and bond obligations of the Caturus group, as confirmed by its dedicated investor relations portal.
Caturus HoldCo LLC is jointly owned by three institutional investors:
- Kimmeridge Energy Management Company, LLC is the founding sponsor and majority shareholder, holding approximately ~44.9% through its private equity fund vehicles, a position it has held since the platform's formation in August 2025.
- Mubadala Energy (Abu Dhabi), a wholly owned subsidiary of Mubadala Investment Company — the sovereign wealth fund of the Government of Abu Dhabi — holds 24.1%, acquired upon closing of its strategic equity investment on August 7, 2025.
- CPP Investments (Canada Pension Plan Investment Board), one of the world's largest institutional investors, holds 31%, a stake built in two tranches: an initial pre-FID investment and a further $1.2 billion equity contribution made at the time of the Final Investment Decision on May 14, 2026.
In its turn, Caturus HoldCo LLC owns 100% of both major operating subsidiaries: Caturus LNG Holdings LLC (the Commonwealth LNG holding vehicle) and Caturus Energy LLC (formerly Kimmeridge Texas Gas LLC, the upstream E&P arm). Its overarching mission is to build America's only independent, fully integrated natural gas and LNG export platform — spanning wellhead to waterfront — by combining domestic gas production in South Texas with international LNG export through Commonwealth LNG.
The platform is currently producing over 1 billion cubic feet equivalent per day (Bcfe/d) of natural gas on a net basis, ranking among the top 10 private U.S. natural gas producers, with a long-term target of 3 Bcfe/d. With the FID taken in May 2026, Caturus HoldCo LLC now oversees a total capital commitment of approximately $13 billion across upstream and LNG export.
STEP 1 — Production: Extraction at the Wellhead
The process starts at the wellhead, where drilling rigs extract natural gas from deep underground reservoirs. Once brought to the surface, the raw gas is gathered for the next step.
STEP 2 — Processing: Purification and Separation
At processing facilities, natural gas is purified to remove water vapor, hydrogen sulfide, carbon dioxide and other hydrocarbons like ethane, propane and butane. This results in pipeline-quality methane, ready for transportation.
STEP 3 — Liquefaction: Preparing Gas for Export
For international markets, natural gas undergoes liquefaction—a process that cools the gas to around -162°C, transforming it into liquefied natural gas (LNG). This reduces its volume significantly, making it economical to transport by specialized LNG tankers.
STEP 4 — Export: Global Delivery via LNG Carriers
Liquefied natural gas is loaded onto double-hulled ships and exported to countries where pipelines are impractical or unavailable.
STEP 5 — Regasification: Providing Energy to End Users
Upon arrival at import terminals, LNG is converted back into its gaseous state for use in energy applications, enabling efficient transport and distribution of natural gas.
