Peoria Resources lands equity commitment from JAPEX
Peoria Resources LLC, Houston, has been established through an equity commitment from JAPEX (US) Corp. (JUS), Houston, a subsidiary of Japan Petroleum Exploration Co. Ltd. (JAPEX).
Peoria aims to pursue acquisition and development of operated oil and natural gas assets in the US Lower 48 and is led by former Treadstone Energy Partners executives.
For JAPEX, the investment—for which financial terms were not disclosed—comes as part of a plan to acquire operated US onshore oil and gas assets while investing $1.5 billion in exploration and development projects during a 2022-2030 timeframe.
JAPEX currently participates in certain tight oil development projects in Texas and Oklahoma.
Mikaila Adams | Managing Editor - News
Mikaila Adams has 20 years of experience as an editor, most of which has been centered on the oil and gas industry. She enjoyed 12 years focused on the business/finance side of the industry as an editor for Oil & Gas Journal's sister publication, Oil & Gas Financial Journal (OGFJ). After OGFJ ceased publication in 2017, she joined Oil & Gas Journal and was named Managing Editor - News in 2019. She holds a degree from Texas Tech University.
