Inpex Enters US Tight Oil Business
Inpex Corporation revealed Friday that its subsidiary, Inpex Americas Inc, has reached an agreement with GulfTex Energy to acquire “multiple development and production assets” in the Eagle Ford play in Texas.
Most assets pertaining to the purchase are located in Karnes County, Inpex revealed. The acquisition marks Inpex’s entry into the U.S. tight oil development and production business.
“Inpex aims to acquire knowledge and insight on tight oil production in the United States as an operator as well as enhance the value of the project by leveraging its existing tight reservoir development technologies,” Inpex said in a company statement.
“The acquisition of the project is aligned to Inpex’s pursuit of the ‘sustainable growth of oil and natural gas exploration and production activities’ - one of the growth targets outlined in the company’s Vision 2040, announced in May 2018, and is strategically positioned to strengthen Inpex’s asset portfolio,” the company added.
Headquartered in Japan, Inpex Corporation is the country’s largest exploration and production company. Inpex is currently involved in approximately 70 projects across more than 20 countries, including the Ichthys LNG Project in Australia as operator. The company’s president and CEO is Takayuki Ueda.
GulfTex Energy is a privately held oil and gas exploration, production and development company based in San Antonio, Texas. The company currently has oil and gas development projects in the Eagle Ford and Austin Chalk in South Texas and the SCOOP in Oklahoma. GulfTex Energy’s president, CEO and founder is Brad Jauer.
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