Latest Tokyo Brief coverage on Japan Petroleum Exploration Co., Ltd., tracking filings, financial news, and market signals from Japan.
TSE:1662
JAPEX has completed its $278mn purchase of four Colorado and Wyoming tight oil and gas companies, borrowing about $220mn against confirmed reserves for assets that sit near the Verdad holdings it bought in February.
Japan Petroleum Exploration completed the sale of one listed security for a ¥8.72bn gain, above the ¥6.0bn it estimated on August 6, and kept its full-year earnings forecast as is.
A ¥6bn gain from selling one listed stock, rather than a rebound in crude sales, is doing much of the work in Japan Petroleum Exploration's higher full-year profit forecast, after quarterly profit fell 79% on costly spot LNG cargoes.
Current holdings disclosed by tracked funds.