Tokyo Gas Co., Ltd. has announced that its wholly-owned subsidiary, Tokyo Gas America Ltd., through its subsidiary TG Eagle Ford Resources LP, signed Heads of Agreement with Shizuoka Gas Co., Ltd. (SG), to sell its Eagle Ford shale gas assets.
Tokyo Gas acquired the working interest in the Eagle Ford shale gas assets from VirTex Producing Company L.P. in June 2016, as its second shale gas development project in the US. Since then, the project has contributed to the growth of Tokyo Gas's overseas business for eight years. To optimise its asset portfolio and improve asset efficiency in shale gas business in the United States, Tokyo Gas will sell its assets to SG for US$130 million, and will focus on TGNR’s assets in the East Texas and North Louisiana area.
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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/25022025/tokyo-gas-announces-sale-of-eagle-ford-shale-gas-assets/
