Stabilis Energy signed an agreement to acquire Prometheus Energy’s 20,000 gallons per day LNG production facility in Lisbon, Utah.
The acquisition extends Stabilis’ LNG production capabilities into the Rocky Mountain region and provides a platform for additional growth in small-scale LNG production facilities across North America.
As part of the transaction, Prometheus will acquire Stabilis’ LNG distribution and logistics business outside of Texas and the Gulf Coast region, however, terms of the transaction were not disclosed.
Speaking of the agreement, Stabilis Energy CEO, Casey Crenshaw said it will allow the company “to focus on its core strengths of building and operating small-scale and mid-scale LNG production facilities.”
Prometheus, on the other hand, will acquire Stabilis’ LNG distribution business in the DJ Basin in Colorado and other regions excluding Texas and the Gulf Coast region.