Japan Petroleum Exploration Co (JAPEX) said on Thursday it decided to buy the entire equity interest in Verdad Resources Intermediate Holdings LLC (VRIH), which holds tight oil and gas assets in the U.S., for $1.3 billion.

JAPEX would buy the whole VRIH, with assets in Colorado and Wyoming, from Verdad Resources Feeder LLC, using its own funds and debt, it said, aiming to close the deal by the end of February 2026.

The asset is currently producing around 35,000 barrels of oil equivalent per day of tight oil and gas which JAPEX aims to increase to approximately 50,000 boed around 2030, it said.

Over the last year, Japanese companies have stepped up energy purchases, via equity stakes and offtake deals, with the U.S., aiming both to diversify their supply base and as U.S. President Donald Trump calls on allies to buy more U.S. energy.

Japan’s announced U.S. LNG purchases this year have reached at least 8.5 million tonnes per year. Japan imported a total of roughly 66 million tons of LNG in 2024.
Source: Reuters