Osaka Gas participates in a shale gas project in Texas, USA
June 29. 2018
OG East Texas, LLC, a subsidiary of Osaka Gas Co., Ltd. (Osaka Gas), has entered into an agreement 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 will obtain approximately 30% of the working interest in the formations in the shale assets.This project currently produces approximately 45 Mmcfepd (approximately 300,000 tons per annum of LNG) from approximately 450 wells located on approximately 100,000 acres (35,000 acres net to Osaka Gas). Sabine and Osaka Gas plan to continue developing the acreage and increasing production.