Tokyo Gas invests in U.S. shale player Castleton Resources

Tokyo Gas invests in U.S. shale player Castleton Resources
Image courtesy of CCI

Tokyo Gas said that through its unit, Tokyo Gas America, it has purchased a 30 percent equity in Castleton Resources, a company focused on developing oil and gas assets in east Texas and Louisiana. 

Castleton Resources, a unit of Castleton Commodities International, focuses on developing the unconventional Haynesville assets.

The company owns and operates over 160,000 net acres of leasehold in East Texas with access to the Cotton Valley and Haynesville shale and has a net production of 238 mmcfepd, Tokyo Gas said.

Speaking of the acquisition, Craig Jarchow, president and CEO of Castleton Resources, said the company will remain “focused on optimizing and growing” its upstream and midstream assets in the region.

Speaking to reporters, Tokyo Gas’ senior general manager of global business development, Isao Hosoya, said that, although the acquisition will allow Tokyo Gas to expand its business in the natural gas value chain, it does not plan to realize an LNG project through the joint venture, Reuters reports.

Share this article

Follow LNG World News

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >