Osaka Gas USA increases upstream presence with agreement to acquire Sabine Oil & Gas in Texas
Osaka Gas USA is pleased to announce that it has entered into a definitive agreement with Sabine Oil & Gas Holdings to acquire 100% of the outstanding shares of its subsidiary, Sabine Oil & Gas Corporation (“Sabine”).
Upon receiving required governmental permits and transaction closing, this marks the first time that a Japanese company purchases a U.S. based shale gas developer. As this acquisition has enhanced Osaka Gas USA’s energy business portfolio, the company intends to continue developing its three core businesses consisting of Freeport LNG liquefaction project, IPP projects and Sabine’s shale gas project, to expand its income for coming years.
See also media release by Osaka Gas Co., Ltd. (parent company of Osaka Gas USA)