JAPEX completes acquisition of Verdad Resources Intermediate Holdings LLC for $1.26 billion

Japan Petroleum Exploration Co., Ltd. has completed its acquisition of all interests in Verdad Resources Intermediate Holdings LLC, which holds tight oil and gas assets in Colorado and Wyoming, closing on Feb. 26, 2026 (local time). The total enterprise value was US$1.26 billion, with about US$360 million financed through reserve-based lending and the remainder funded by the company and other sources. Through its consolidated sub-subsidiary Peoria Resources, LLC, the company plans to operate the assets and target net production of about 50,000 boed around 2030.

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