Stabilis Energy Announces Acquisition of Prometheus Energy

Prometheus to Operate as Independent Natural Gas Distribution
Subsidiary of Stabilis Nationally; Stabilis to Focus on LNG Production
Assets

BEAUMONT, Texas–(BUSINESS WIRE)–Stabilis Energy (“Stabilis”) announced that it has completed the
acquisition of a majority interest in Prometheus Energy (“Prometheus”).
The acquisition combines two of the leading liquefied natural gas
(“LNG”) production and distribution companies to form a full-service LNG
provider capable of delivering LNG to customers in any end market and
location in North America. Terms of the transaction were not disclosed.

Prometheus will operate as the independent LNG distribution subsidiary
of Stabilis. Prometheus provides mobile and stationary LNG solutions to
industrial, utility, pipeline, high-horsepower and other remote
customers. Customer solutions include supporting utilities with natural
gas via LNG for flow assurance to address gas interruptions, gas
curtailments and critical peak demand during extreme conditions.
Prometheus will continue to purchase LNG from multiple producers to
optimize fuel cost for its customers.

“We are pleased to announce the acquisition of Prometheus Energy,” said
Casey Crenshaw, CEO of Stabilis Energy. “Prometheus was a pioneer in the
LNG industry and it remains the premier small-scale LNG distribution and
service company in the world. We believe this transaction will allow
each company to grow aggressively in LNG production and distribution,
respectively.” Jim Reddinger, President and CFO of Stabilis Energy
added, “Stabilis’ LNG production plants will continue to provide
reliable and cost-effective LNG to all customers and distribution
channels.”

Jim Aivalis, CEO of Prometheus Energy added, “Prometheus remains fully
committed to its current customers and business model. We are
experiencing strong and growing demand for reliable and cost-effective
natural gas solutions from our customers. The combination with Stabilis
will provide Prometheus with added resources to better serve our
customers as their need for LNG expands.”

About Stabilis Energy

Stabilis Energy is a leading supplier of liquefied natural gas (LNG) to
the industrial, midstream, and oilfield sectors in North America.
Stabilis provides turnkey fuel solutions to help industrial users of
diesel and other crude-based fuel products convert to LNG, resulting in
reduced fuel costs and improved environmental footprint. Stabilis opened
its 120,000 gpd LNG production facility in George West, TX in January
2015 to service industrial and oilfield customers in Texas and the
greater Gulf Coast region. Stabilis is vertically integrated from LNG
production through distribution and cryogenic equipment rental. Stabilis
is headquartered in Beaumont, TX and is privately held. For more
information, please visit: www.StabilisEnergy.com.

About Prometheus Energy

Prometheus is a leader providing turnkey natural gas fueling solutions
to the gas utility, industrial, power, pipeline and energy sectors
in North America resulting in reduced fuel cost and environmental
footprint for customers. The company is integrated across the natural
gas supply chain from LNG & CNG sourcing, distribution, logistics,
onsite equipment and field support. A pioneer in the industrial LNG
market, Prometheus is recognized for its industry leadership and
execution track record of over 140 successful customer projects and more
than 18,000 LNG deliveries. Prometheus Energy is privately held and
headquartered in Houston, Texas. For more information, please visit: www.PrometheusEnergy.com.

Contacts

Stabilis Energy
Jim Reddinger, (409) 833-1115
[email protected]
or
Prometheus
Energy
Jim Aivalis, (832) 456-6500
[email protected]