April 20, 2023 Press Release from Mitsui & Co., Ltd.
In early 2023, MEPUSA acquired approximately 92% working interest in an unconventional natural gas asset in Webb county from Silver Hill Energy Partners. This asset (part of the Hawkville field and approximately 8,500 gross acres) is in South Texas with access to the Gulf Coast markets and industrial area including liquefied natural gas (LNG) export terminals and ammonia plants. Additional gas production is expected from this asset with further development and MEPUSA will develop and operate the asset, aiming for stable gas production of over 200 million cubic feet per day when fully developed, while maintaining a focus on the safety of personnel and the community, as well as ensuring being good environmental stewards.
This is the first operated asset that MEPUSA has acquired and is a key step in the growth and evolution of the company, as it offers an opportunity for organizational growth and increased organizational capability.