Tokyo Gas set to acquire US natural gas producer from private equity in nearly $5B deal – Tokyo Gas Co. (OTC: TKGSF), Tokyo Gas Co. (OTC: TKGSY)

  • Tokyo Gas Co. Ltd. TKGSY TKGSF The entity is reportedly in advanced talks to buy Rockcliff Energy From Quantum Energy Partners For about $4.6 billion.
  • Unit, TG Natural ResourcesThe company, which is 70% owned by Tokyo Gas, is expected to announce the deal sometime this month, sources told Reuters. Castleton Commodities International (CCI) owns the rest of TG Natural Resources.
  • reuters writing That TG Natural Resources is arranging the funding. The sources also said that no deal is guaranteed.
  • Rockcliff produces over 1 billion cubic feet of natural gas per day from the Haynesville Shale Formation.
  • The purchase of Rockcliffe will significantly increase TG Natural Resources’ operations, with the company producing approximately 330 net million cubic feet per day by June 2022 from the Haynesville Formation.
  • Japan is working to diversify away from Russia’s Sakhalin project, which accounts for 9% of Japan’s total LNG imports of 74.3 million tonnes annually.

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