Adamas Energy LLC...Mitsubishi's Replacement For Aethon

General Mineral Rights Discussion
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I noticed today that two of Aethon’s recent drilling permits in Texas had been amended to change the operator to Adamas Energy LLC. I checked around for more info, and grok gave me the answer:

Adamas Energy LLC appears to be a relatively new entity in the energy sector, established as a wholly owned subsidiary of Mitsubishi Corporation (a major Japanese trading house).

It was created following Mitsubishi’s acquisition of natural gas and pipeline assets from Aethon Energy Management LLC (a Dallas-based company active in the Haynesville shale basin). The deal was announced in mid-January 2026, with Mitsubishi paying approximately $5.2 billion in cash and assuming about $2.33 billion in debt, for a total enterprise value around $7.5 billion. This marks one of the largest investments by a Japanese company in the U.S. shale gas sector.

Key details:

  • The assets are primarily in the Haynesville Shale formation, spanning eastern Texas and northern Louisiana.

  • They produce roughly 2.1 billion cubic feet per day (Bcf/d) of natural gas — equivalent to about 15 million tons per year of LNG potential.

  • The location is strategic due to proximity to U.S. Gulf Coast LNG export facilities, strengthening Mitsubishi’s position in global liquefied natural gas markets (where it already has stakes, like in Cameron LNG).

  • Gordon Huddleston (son of Aethon founder Albert Huddleston) is set to serve as CEO of Adamas Energy.

  • Aethon retained an option to buy back up to 25% of certain upstream and midstream assets.

  • The transaction gives Mitsubishi full involvement in the U.S. shale gas value chain, from production to domestic sales and exports.

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A friend of mine was telling that Mitsubishi was getting into the natural gas business. This will make two In Japanese companies involved in the Haynesville shale.

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Sure been really quiet in Leon, Houston, Anderson, and Robertson counties after the first of the year.

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Comstock has continued leasing in Leon and Freestone, recording about 250 new leases since January 1, but it’s all infill, no new areas.

I think Expand is the primary force behind the 210 square mile 3D seismic study that has begun in Freestone, Leon, and Anderson Counties:

https://elkhartwest3d.com/

It is unlikely that Expand will drill any wells in that area before the seismic results are available, which won’t be until November/December 2026. It is possible that Expand may drill one ore more wells in northwestern Houston County, where seismic data is available.

Mitsui has stated that they view 2026 as an opportunity to drill some test wells and gather knowledge in preparation for ramping up in 2027.

So, yes, things are in a lull right now…

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I’m hoping they increase production out here. The East end of Shelby county Texas still has plenty of life in it :right_facing_fist::left_facing_fist:. Personally, I wouldn’t mind if they bought out one of the companies j have a lease with and redrill that well to a respectable depth. I’ve had that lease for 4 years now and it’s a HORRIBLE producer.