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Stabilis Buying Small-Scale LNG Facility in Utah

Beaumont, TX-based Stabilis Energy LLC said Tuesday it would buy for an undisclosed amount Prometheus Energy's 20,000 gallon/day small-scale liquefied natural gas (LNG) production facility in Lisbon, UT.

Prometheus operates a North American LNG supply and services business that works mostly in the Denver-Julesburg (DJ) Basin in Colorado. Stabilis said the deal would provide “a platform for additional growth in small-scale LNG production."

As part of the transaction, Prometheus agreed to acquire the Stabilis LNG distribution/logistics business outside of Texas and the Gulf Coast. The transaction would enable Stabilis to focus on its core strengths of building/operating small- and mid-scale LNG production plants, said CEO Casey Crenshaw.

"We believe this transaction allows both companies to focus on what they do best," he said.

CFO Jim Reddinger said Stabilis would continue to provide transportation and logistics services required to move LNG from its production facilities to customers.

In 2013, the company’s Green Energy Fuels unit took delivery of 10 LNG-powered Peterbilt 388 sleeper tractors to haul LNG and equipment for oilfield service operations as part of a plan to build five LNG plants.

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