Source disclosure: February 27, 2026, 14:00 JST
Japan Petroleum Exploration Co.,Ltd. [1662.T]
TOKYO, Feb 27 (Pulse News Wire) – Japan Petroleum Exploration CO.,LTD. (1662.T) completed its acquisition of Verdad Resources Intermediate Holdings LLC's tight oil and gas assets in Colorado and Wyoming on February 26 (local time).
The total purchase price was $1.260 billion. Approximately $360 million (about ¥54.00 billion) of the necessary funds was secured through reserve-based lending, while the remainder was funded by the company’s own resources.
Peoria Resources, LLC, a foreign subsidiary of JAPEX, will operate the acquired assets, aiming to actively develop and produce tight oil and gas. The expected daily production volume from these assets is approximately 50,000 barrels of oil equivalent (boe/d) within the next two years, with around 70% being light crude oil and natural gas liquids (NGL).
In addition to maximizing the value of the acquired assets, JAPEX plans to accumulate operational expertise through this project and further expand its North American operations.
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