Acquisitions · Natural gas (shale)
Osaka Gas buys Texas shale gas producer Sabine Oil & Gas for $610 million
- Buyer
- Osaka Gas (via Osaka Gas USA) (Osaka)
- Target
- Sabine Oil & Gas Corp., Houston, Texas
- Value
- $610M (about ¥65B)
- Status
- Agreed on July 29, 2019; completed on November 30, 2019.
- Date
- 2019-07-29
Osaka Gas agreed to buy Sabine Oil & Gas, a Houston-based producer with natural gas assets in the Haynesville area of East Texas, for $610 million through its US subsidiary. It was the first purchase of a US shale gas company by a Japanese buyer.
Why it matters
The deal moved Osaka Gas from buying US gas toward producing it, giving the company its own upstream position in a major shale region.
Sources
Kakehashi M&A News home
