Tokyo Gas: Acquisition of interest in new gas field in the US: Castleton Resources (CR)
Tokyo Gas / Castleton Resources (CR)
Tokyo Gas U.S. subsidiary / Castleton Resources (CR) acquired “Right interest in gas fields owned by Royal Dutch Shell subsidiary / BG US Productions (BG US) in Texas / Louisiana” .
Tokyo Gas America has increased its stake in CR to acquire a gas field, with a 46% stake.
Currently, CR’s gas and natural gas liquid production is 238 million cubic feet / day (7 million m3 / day).
With this acquisition of interests, it will increase approximately 1.4 times to approximately 343 million cubic feet / day (10 million m3 / day).
Tokyo Gas plans:
“By expanding overseas, we will triple our overseas profit in 2030.”
* 1: CR company
Established in 2017 by Castleton Commodities International (“CCI”).
Tokyo Gas America Inc. has a 30% stake.
* 2: Translated term for natural gas liquids.
Liquid hydrocarbons such as condensate separated and recovered from natural gas.