Osaka Interest Purchase Agreement In Sabine Permian Properties

July 2, 2018

 

Japan’s Osaka Gas Co. Ltd. says it has a new agreement with Houston’s Sabine Oil & Gas, which will sell 35% of Sabine’s working interest in Permian Basin gas properties for an undisclosed price.

Through subsidiary OG East Texas LLC, Osaka adds the interest in shale properties primarily located in Harrison and Panola Counties to its assets, which include the Freeport LNG liquefaction business.

The 450 wells in which Osaka gains interest produce an aggregate 45 Mmcfepd of natural gas, condensate and about 300,000 tons per annum of LNG, the company said.

The agreement is arranged through Sabine’s subsidiary Sabine East Texas Basin LLC.