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29 July 2020 |
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Company: |
Tokyo Gas Co., Ltd. |
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Representative: |
President, Takashi Uchida |
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Tokyo Stock Exchange, Tokyo 1st Section |
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Security code：9531 |
Tokyo Gas Acquires Oil and Gas Assets in Louisiana Through Castleton Resources
and Takes Majority Interest in Castleton Resources
In connection with the acquisition of additional oil and gas assets in the U.S. of Louisiana, Tokyo Gas Co., Ltd. (“Tokyo Gas”) has decided that Tokyo Gas America Ltd. (“Tokyo Gas America”, President: Kazuya Kurimoto), a wholly owned subsidiary of Tokyo Gas, will take majority interest in Castleton Resources LLC (“CR”), an upstream oil and gas company in the U.S..
１．Background
Castleton Resources will fund the closing of the transaction with additional equity capital from Tokyo Gas America. After such funding, Tokyo Gas America will increase its ownership interest in CR from 46% to approximately 70%. This will be our company’s first acquisition of an operator in the shale gas business in the U.S.
２．Castleton Resources LLC
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Corporate Name |
Castleton Resources LLC |
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Address |
Houston, Texas, USA |
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（３） |
President |
Craig Jarchow |
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Main business |
Upstream development in East Texas and North Louisiana targeting Haynesville |
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Read More: Tokyo Gas : Acquires Oil and Gas Assets in Louisiana Through Castleton
