Japan Petroleum Exploration Co., Ltd.
Notice of US Tight Oil and Gas Assets Acquisition and Consolidated Subsidiary (Subsidiary) Change
We will acquire all equity interests in Fundare, four US-based tight oil and gas asset holdings, for approximately $320 million, and consolidate them through Peoria. From the fourth quarter of the 2027 fiscal year, we expect to contribute to consolidated results, with an estimated operating income contribution of about ¥15 billion in the 2028 fiscal year.
Key Figures
- Acquisition price: Approximately $320 million
- Expected operating income contribution for the current period: Several billions of yen
- Expected operating income contribution for the 2028 fiscal year: About ¥15 billion
AI要約
Overview
Oil Resource Development has resolved by the Board of Directors to acquire all outstanding shares of Fundare’s four US-based tight oil and gas assets in Colorado and Wyoming. The acquisition will be executed through AcquCo in related-party transactions, aiming to integrate nearby assets to improve development efficiency and reduce costs. After the acquisition, consolidation will occur through Peoria Resources, LLC.
Financial impact and schedule
Acquisition price is approximately $320 million. The closing is planned for the third quarter of the 2027 fiscal year, and is expected to contribute to consolidated results from that quarter onward. The current period's contribution is expected to be operating income in the several billions of yen, with an approximate contribution of about ¥15 billion in the 2028 fiscal year.
Oil Resource Development Co., Ltd.
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