Worth reading
52Recurring
Scored from 4 of 5 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
2.78
US$100 millionWording
Conditional
How definitive the wording is.This transaction
Acquisition of all equity interests in FundareDisclosing companyJapan Petroleum Exploration Co.,Ltd.
Execution Date / Effective DateAcquisition completed on 1 October 2026 (local time)
Target company
Holds tight oil and gas assets
Location Colorado and Wyoming, United States
Consideration and expenses
Acquisition priceUS$278 million
Funding arrangementsOf the funds required at the time of acquisition, approximately US$220 million (approximately ¥33 billion) was raised through reserve-based lending (RBL), secured by proved reserves, with the remainder funded through the internal funds of Peoria Resources, LLC.
Impact on Business Performance
Policy of generating earnings at an early stage
Procedures and assumptions
Management structure after acquisitionThe company and Peoria will pursue the production and development of the Verdad assets and Fundare's tight oil and gas assets, while accumulating expertise as operators and exploring new business opportunities.
| Item | Details |
|---|---|
| Transaction name | Acquisition of all equity interests in Fundare |
| Name of the Subject Company | Fundare Resources Operating Company, LLC, Fundare Redtail, LLC, Rangeview Resources Operating Company, LLC, Rangeview Green River, LLC |
| Business Description of the Subject Company | Holds tight oil and gas assets |
| Location of the Subject Company | Colorado and Wyoming, United States |
| Acquisition price | US$278 million |
| Number of shares acquired | All equity interests |
| Funding arrangements | Of the funds required at the time of acquisition, approximately US$220 million (approximately ¥33 billion) was raised through reserve-based lending (RBL), secured by proved reserves, with the remainder funded through the internal funds of Peoria Resources, LLC. |
| Impact on Business Performance | Policy of generating earnings at an early stage |
| Execution Date / Effective Date | Acquisition completed on 1 October 2026 (local time) |
| Management structure after acquisition | The company and Peoria will pursue the production and development of the Verdad assets and Fundare's tight oil and gas assets, while accumulating expertise as operators and exploring new business opportunities. |
Items this document does not state (22)
Counterparty nameCapital Stock of the Subject CompanyDate of Establishment of the Subject CompanyNet Sales of the Subject CompanyOperating Profit of the Subject CompanyNet Income of the Subject CompanyNet Assets of the Subject CompanyExpenses other than the acquisition priceType of ConsiderationMerger ratio/share exchange ratioTender offer priceMinimum number of shares to be purchasedTender offer periodVoting rights ownership percentageGoodwill amountAmount of extraordinary income (loss)Date of board resolutionContract DateValuation methodologyIndependent valuation institutionSpecial CommitteeConditions Precedent to Execution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.As Fundare's principal leases are located near the existing Verdad assets, the company aims to pursue efficient development by leveraging the locations and reduce unit costs as the business expands. It also aims to generate earnings at an early stage through the production and development of tight oil and gas assets and to accumulate expertise as an operator.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.