I noticed today that two Aethon 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 most complete 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.
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Great post - interesting to see the 25% buy back option.
This goes hand in hand with earlier rumors that some Aethon people were going to form their own company.
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Posted by Char on May 29, 2025 at 14:42 — 4 Comments
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