Stabilis Energy Announces Strategic Transaction to Expand Its LNG Production Footprint

Stabilis to Acquire Prometheus Energy’s 20,000 gpd LNG Production
Facility in Lisbon, UT; Prometheus to Acquire Stabilis’ LNG Distribution
Business Outside of Texas and the Gulf Coast

BEAUMONT, Texas–(BUSINESS WIRE)–Stabilis Energy (“Stabilis”) announced that it has signed a definitive
agreement to acquire Prometheus Energy’s (“Prometheus”) 20,000 gpd 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. Terms of the transaction were not
disclosed.

“We are pleased to announce the acquisition of the Lisbon LNG production
facility,” said Casey Crenshaw, CEO of Stabilis Energy. “This
transaction allows Stabilis to focus on its core strengths of building
and operating small-scale and mid-scale LNG production facilities. This
transaction is a continuation of our plan to build the leading LNG
supply network in North America.”

Prometheus will add to its industry-leading North American LNG supply
and service platform with the acquisition of Stabilis’ LNG distribution
business in the DJ Basin (Colorado) and other regions excluding Texas
and the Gulf Coast region. Crenshaw added, “Prometheus is best-in-class
in providing cost effective and reliable LNG distribution services to
its customers across North America. We believe this transaction allows
both companies to focus on what they do best.”

Jim Reddinger, President and CFO of Stabilis Energy continued, “Stabilis
remains fully committed to self-performing the transportation and
logistics services required to move LNG from our production facilities
to our customers. Providing certainty of LNG supply to our customers is
our top priority, and we believe that self-performing transportation and
logistics services in Texas and the Gulf Coast region is critical to
fulfilling this commitment.”

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.

Contacts

Stabilis Energy
Jim Reddinger, 409-833-1115
President and CFO
[email protected]