Japan Petroleum Exploration To Acquire Verdad Resources Intermediate For $1.3 Bln

(RTTNews) - Japan Petroleum Exploration Co., Ltd. (JPTXF, 1662.T) announced that it plans to acquire the entire interest in Verdad Resources Intermediate Holdings LLC (VRIH), which owns tight oil and gas assets in Colorado and Wyoming, United States. The acquisition will be made from Verdad Resources Feeder LLC for a purchase price of US$1.3 billion.

The assets currently produce approximately 35,000 barrels of oil equivalent per day (boed), with about 70% consisting of light crude oil and natural gas liquids (NGL). JAPEX expects production to rise to around 50,000 boed by 2030 through additional development projects.

The deal is scheduled to close by the end of February 2026. JAPEX projects that the acquisition of VRIH's equity interest will contribute roughly 20 billion yen to operating profit in the fiscal year ending March 2027. The company also aims to further enhance profitability through continued development of the acquired assets.