Prime Highlight
- JAPEX will acquire Verdad Resources for $1.3 billion, the largest deal in its history, expanding its oil and gas presence in the United States.
- The acquisition reflects JAPEX’s strategy to prioritize oil and gas investments through 2030 while reducing near-term focus on renewables.
Key Facts
- Verdad’s U.S. assets in Colorado and Wyoming produce about 35,000 barrels of oil equivalent per day, with a target of 50,000 by around 2030.
- The deal is expected to close by February 2026, subject to approvals, and will be funded through internal capital and borrowing.
Background
Japan Petroleum Exploration Co. (JAPEX) said on Thursday it will acquire Verdad Resources Intermediate Holdings LLC in a $1.3 billion deal, marking the largest acquisition in the company’s history. The deal will give the Japanese energy firm ownership of tight oil and gas assets in the United States.
JAPEX will buy Verdad Resources Intermediate Holdings, which holds producing assets in Colorado and Wyoming, from Verdad Resources Feeder LLC. The company said it will fund the acquisition through a mix of its own capital and borrowing. The transaction is expected to close by the end of February 2026, subject to regulatory approvals and other conditions.
The acquisition supports JAPEX’s strategy to strengthen its presence in the U.S. energy market and to operate oil and gas exploration and production projects. The company plans to focus more on oil and gas investments through 2030 and to put less focus on renewable energy in the near term.
The U.S. assets currently produce around 35,000 barrels of oil equivalent per day. JAPEX said it plans to raise production to about 50,000 barrels per day by around 2030 through further development and operational improvements.
JAPEX added that it will continue to look for additional operator assets in the United States as it seeks long-term growth and stable profits. The company sees the U.S. market as a key area for growth because it has large resources and a stable business environment.
The deal also shows a wider trend of Japanese companies strengthening energy ties with the United States. Over the past year, companies increased investments by buying equity stakes and signing supply agreements to diversify their energy sources. This comes as U.S. President Donald Trump has urged allies to buy more American energy.
Japan has announced U.S. liquefied natural gas purchases of at least 8.5 million tonnes per year in 2025. The country imported about 66 million tonnes of LNG in total in 2024.
