JAPEX Provides Equity Commitment to Peoria Resources
- Editor
- Mar 27
- 2 min read
Whats Happening:
JAPEX (U.S.) Corp., a subsidiary of Japan Petroleum Exploration Co. Ltd., has announced an equity commitment to Peoria Resources, LLC. This investment is part of JAPEX's plan to acquire operated U.S. onshore oil and gas assets while investing $1.5 billion in exploration and development projects from FY 2022 through FY 2030. Peoria, led by industry veterans Greg West and David Kita, aims to acquire and develop operated oil and natural gas assets across the lower 48 states.
Key Moves:
JAPEX provides equity commitment to Peoria Resources
Peoria to acquire and develop operated oil and gas assets in lower 48 states
JAPEX plans $1.5bn investment in exploration and development through FY 2030
By The Numbers:
JAPEX to invest $1.5bn in exploration and development from FY 2022 to FY 2030
Peoria aims to operate across the lower 48 states
JAPEX (U.S.) Corp. established in 1980
Key Quotes:
"We are excited to partner with JAPEX to build a healthy, scalable operated oil and gas business," - Greg West, CEO of Peoria Resources
"Our commitment to the U.S. market remains strong," - Tetsuo Fukuhara, JUS President
"We look forward to working closely with the Peoria management team to build operated business with an investment structure for sustainable profits," - Josh Karim, JUS Chief Operating Officer
Bottom Line:
JAPEX's equity commitment to Peoria Resources marks a significant step in its strategy to expand its U.S. onshore oil and gas operations. This partnership leverages Peoria's management team's extensive experience and JAPEX's financial backing to pursue acquisitions and development opportunities across the lower 48 states. The move aligns with JAPEX's broader $1.5 billion investment plan, signaling a long-term commitment to the U.S. energy market.
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