Inpex to Sell 25% Stake in Gas Block in Louisiana to Sibley Petroleum

Inpex Corporation (Inpex) reported Monday that through its wholly-owned subsidiary, Teikoku Oil (North America) Co., Ltd., it has agreed to sell all its participating interest (25 percent) in Block SL20183 in the State of Louisiana, U.S., to Sibley Petroleum Investments, LLC.

Block SL20183 is an onshore block producing natural gas at the rate of approximately 3.7 MMscf/d. PetroQuest Energy, LLC (operator) and US Energy hold a 55 percent and 20 percent participating interest, respectively.

Inpex acquired its participating interest in Block SL20183 in 2006 and has since engaged in the production and development of natural gas there. The selling of Inpex’s interest in the block is intended to help optimize the company’s global asset portfolio.

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