- Jul 31, 2019 5:00 pm GMT
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Osaka Gas Co. is deepening its bet on the American energy boom, making the first purchase of a U.S. shale gas driller by a Japanese company.
The company will acquire closely held Sabine Oil & Gas Corp., a unit of Sabine Oil & Gas Holdings, for $610 million. That will give Osaka Gas 175,000 net acres of shale-gas-producing land in East Texas, including wells in the Haynesville and Cotton Valley formations.
Deals like this show that the U.S. shale market is likely hear to stay for a while, with high market confidence