Tokyo Gas reportedly close to billion-dollar acquisition of US company
Major Japanese fuel supplier Tokyo Gas is not far from buying US natural gas company Rockcliff Energy in a 4.6bn transaction, reports Reuters.
The seller is private equity firm Quantum Energy Partners, and rumors about a potential divestment come from persons familiar with the negotiation process, writes the news agency. Sources claim the acquisition will be announced in January.
More specifically, it’s Tokyo Gas-owned TG Natural Resources that’s close to procuring Rockcliff. None of the involved parties have made any statement to Reuters.
Rockcliff produces more than 1 billion cubic feet of gas per day from the Haynesville Shale, stretching from Louisiana to the eastern parts of Texas. The acquisition, if it manifests, will result in a marked increase of TG’s production capacity of 330 million cubic feet per day as measured in the summer.
