Japan's JAPEX purchases US tight oil assets and gas assets for $1.3 billion

Japan Petroleum Exploration Co. (JAPEX), which owns tight oil and natural gas assets in the U.S.A., announced on Thursday that it had 'decided' to purchase the entire equity stake?in Verdad Resources Intermediate Holdings LLC (VRIH) for $1.3 billion.

JAPEX will buy the entire VRIH with assets in Colorado - and Wyoming - from Verdad Resources Feeder LLC using 'its own funds and its debt', the company said. It aims to 'close the deal before the end of the month of February 2026.

JAPEX said that the asset currently produces around 35,000 barrels of oil equivalent per day (boed) from tight oil and natural gas, which it aims to increase by approximately 50,000 boed by 2030.

In the past year, Japanese companies have increased their energy purchases via equity stakes or offtake agreements with the U.S. to diversify supply and as U.S. president Donald Trump has called on allies in order to purchase'more U.S. Energy.

Japan's announced U.S. LNG purchases have exceeded 8.5 million tonnes in this year. In 2024, Japan will import a total amount of approximately 66 million tonnes of LNG.

(source: Reuters)