Increased production through joint development of U.S. tight oil
First written in FY2023. 12 of 14 entries say "Advanced", first in FY2024-Q2. Latest entry: 2026-10-02.
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- 2026-10-02Advancedwww.moomoo.com
「Japan Petroleum Exploration Co., Ltd. has completed its acquisition of Fundare.」
The acquisition of U.S. tight oil and gas assets has advanced to the concrete execution stage of completing the acquisition. - FY2026AdvancedAnnual report
「To pursue further expansion of the U.S. E&P business and sustainable earnings by acquiring all equity interests in Verdad Resources Intermediate Holdings LLC.」
On 26 February 2026, the company completed the acquisition of all equity interests in VRIH, which holds tight oil and gas assets in Colorado and Wyoming, expanding the geographic coverage and asset base of its U.S. E&P operations. - FY2026-H1AdvancedAnnual report
「North America segment revenue increased by ¥1,793 million year on year to ¥29,162 million, mainly because of higher crude oil and natural gas sales volumes, representing an increase of 6.6%. Segment profit increased by ¥559 million to ¥10,910 million, also mainly because of higher crude oil and natural gas sales volumes, representing an increase of 5.4%.」
For North American E&P, higher crude oil and natural gas sales volumes resulted in a 6.6% increase in revenue and a 5.4% increase in segment profit for the current interim consolidated fiscal period. - FY2025AdvancedAnnual report
「The main factor behind the ¥13.8 billion increase in profit from the overseas E&P business was a ¥9.6 billion increase at Japex (U.S.) Corp. due to higher crude oil sales volumes associated with tight oil development.」
For U.S. tight oil development, higher crude oil sales volumes resulted in a ¥9.6 billion increase in profit at Japex (U.S.) Corp. North America capital expenditures totaled ¥65,605 million. - FY2025-H1AdvancedAnnual report
「North America segment revenue increased by ¥12,804 million year on year to ¥27,368 million, mainly because of higher crude oil sales volumes, representing an increase of 87.9%. Segment profit increased by ¥4,862 million to ¥10,351 million, also mainly because of higher crude oil sales volumes, representing an increase of 88.6%.」
For the North American business, including U.S. tight oil development, revenue for the current interim consolidated fiscal period was ¥27,368 million and segment profit was ¥10,351 million, driven by higher crude oil sales volumes. - FY2024AdvancedAnnual report
「The main factors behind the ¥13.6 billion increase in profit from the overseas E&P business were a ¥7.2 billion increase at Japex (U.S.) Corp., mainly due to higher crude oil production associated with tight oil development, and」
For the U.S. tight oil joint development business, North America segment capital expenditures totaled ¥65,690 million, while higher crude oil production associated with tight oil development at Japex (U.S.) Corp. contributed to a ¥7.2 billion increase in profit. - FY2024-Q3AdvancedAnnual report
「Revenue for the first 3 quarters of the current consolidated fiscal year increased by ¥18,287 million year on year to ¥23,427 million, mainly because of higher crude oil sales volumes, representing an increase of 355.8%. Segment profit increased by ¥6,010 million to ¥8,929 million, also mainly because of higher crude oil sales volumes, representing an increase of 205.9%.」
Although the filing does not explicitly establish a direct causal relationship with the U.S. tight oil joint development business, higher crude oil sales volumes lifted North America segment revenue for the first 3 quarters to ¥23,427 million and segment profit to ¥8,929 million, further expanding earnings performance from the previous year. - FY2024-Q2AdvancedAnnual report
「Revenue for the first 2 quarters of the current consolidated fiscal year increased by ¥13,352 million year on year to ¥14,564 million, mainly because of higher crude oil sales volumes. Segment profit increased by ¥4,940 million to ¥5,488 million, also mainly because of higher crude oil sales volumes, representing an increase of 901.6%.」
In the North America segment, higher crude oil sales volumes lifted revenue to ¥14,564 million and segment profit to ¥5,488 million, substantially expanding earnings performance from the previous year. - FY2024-Q1Revenue performance driven by higher North American crude oil sales volumesAnnual report
「North America segment revenue increased by ¥5,235 million year on year to ¥5,744 million, mainly because of higher crude oil sales volumes. Segment profit increased by ¥1,725 million to ¥1,952 million, also mainly because of higher crude oil sales volumes, representing an increase of 759.9%.」
Although the filing does not specify the production capacity or progress of facilities for the U.S. tight oil joint development business itself, the North America segment reported revenue of ¥5,744 million and segment profit of ¥1,952 million, driven by higher crude oil sales volumes. - FY2023First statedAnnual report
「Capital expenditures in the North America segment totaled ¥25,738 million, primarily including development costs related to the shale oil joint development business in Texas and Oklahoma, U.S.」
As North American E&P following the reorganization of the Canadian business, the Company invested ¥25,738 million in shale oil joint development in Texas and Oklahoma, U.S., and disclosed a planned production capacity of approximately 7,200 barrels per day.