Tokyo Gas America Ltd., (Tokyo Gas America) a wholly owned subsidiary of Tokyo Gas Co., Ltd.
(Tokyo Gas) has closed a transaction through Castleton Resources LLC (Castleton Resources) to
acquire oil and gas assets in the East Texas / Louisiana region from BG US Production Company, LLC
(“BG US”) a subsidiary of Royal Dutch Shell PLC. After its capital injection along with the transaction,
Tokyo Gas will increase its share of Castleton Resources from 30% to approximately 46%.
This transaction will increase the net production of Castleton Resources from 238 Mmcfepd to 343
Mmcfepd, approximately 1.4 times.
Tokyo Gas will continue to expand its business in North America, one of the most strategic areas globally,
as based on the Tokyo Gas Group Management Vision, Compass 2030.
Jun Tabei, President and Chief Executive Officer of Tokyo Gas America Ltd. said, “Castleton Resources
is strategically important for our upstream business in the US. We are eager to expand our footprint in the
East Texas / Louisiana area through Castleton Resources. Shell and Tokyo Gas have worked together in
the LNG world since 1972. I am delighted to have this deal closed as this is the first transaction for Tokyo
Gas and Shell in North America.”
Craig Jarchow, President and Chief Executive Officer of Castleton Resources LLC said “This transaction
is consistent with our strategy of asset aggregation in the Ark-La-Tx region. With the help of our partner,
Tokyo Gas America Ltd., we are well positioned to continue building a world class Haynesville gas
portfolio.”
