Osaka Gas USA participates in a shale gas project in Texas (East TX)
July 29 2018
Osaka Gas USA agreed with Sabine Oil & Gas Corporation and its subsidiary Sabine East Texas Basin LLC (collectively Sabine) to acquire 35% of Sabine’s working interest in the gas properties located primarily in Harrison and Panola Counties, Texas, USA. As a result of this acquisition, Osaka Gas USA will obtain approximately 30% of the working interest in the formations in the shale assets.
As of the effective date, January 1, 2018, this project produced approximately 45 Mmcfepd (approximately 300,000 tons per annum of LNG) from approximately 450 wells located on approximately 100,000 net acres (net to Sabine and Osaka Gas USA, collectively).
Daily production has doubled since the start of 2018 and currently is ~95 Mmcfepd (approximately 700,000 tons per annum of LNG).
Sabine and Osaka Gas USA plan to continue developing the acreage and increasing production.
See also media release by Osaka Gas Co., Ltd. (parent company of Osaka Gas USA)