Japan’s Inpex Corporation has announced that it has agreed with GulfTex Energy to acquire multiple development and production assets in the Eagle Ford play in Texas, U.S.
The deal marks Inpex’s entry into the U.S. tight oil development and production business. The deal will significantly strengthen INPEX’s asset portfolio.
In a statement, Inpex said that most assets pertaining to the Project are located in Karnes County, which is considered to be a highly productive area within the Eagle Ford shale play. Inpex will be the operator of the project, with the exception of a portion of the project assets.
Inpex said it aims to acquire knowledge and insight on tight oil production in the U.S. as an operator as well as enhance the value of the project by leveraging its existing tight reservoir development technologies.