Gryphon Exploration Acquired by Woodside Energy for $297 Million

Cheniere Energy's exploration and production venture with Warburg Pincus, Gryphon Exploration Company, has been acquired for $283 million plus the assumption of $14 million of net debt in a merger with Woodside Energy (USA) Inc. The transaction generated net proceeds of $20.2 million to Cheniere Energy.

Gryphon Exploration was formed in October 2000 by Cheniere Energy and Warburg Pincus, a global private equity firm based in New York, to fund Cheniere's exploration program in the Offshore Louisiana Area. Cheniere Energy contributed all project related assets to Gryphon Exploration Company, and Warburg Pincus made investments of $85 million.