Japex Closes $1.26 Billion Acquisition of Verdad Resources’ D-J Assets
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Japan Petroleum Exploration Co. (JAPEX) has completed its acquisition of all interests in Verdad Resources securing tight oil and gas assets in Colorado and Wyoming in a deal valuing the enterprise at $1.26 billion.
Through its overseas sub-subsidiary Peoria Resources, JAPEX will act as operator of the acquired assets and plans to actively develop tight oil and gas production at the fields.
The company expects daily output from these assets to reach about 50,000 barrels of oil equivalent per day by around 2030, and aims to use this platform to enhance asset value, build operating expertise, and further expand its North American business footprint.
Japan Petroleum Exploration Co., Ltd. (JAPEX) is a Japanese energy company engaged in the exploration, development, and production of oil and natural gas. It is expanding its portfolio with a growing focus on overseas upstream assets, particularly in North America, to strengthen long-term production and reserves.
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