Japan Petroleum Exploration Co. is acquiring tight oil and gas producer Fundare for $320 million, adding assets in Colorado and Wyoming that produced approximately 9,500 barrels of oil equivalent per day in the first quarter of 2026. The deal, executed through JAPEX's U.S.-based subsidiary structure, covers all four Fundare operating entities and places a major portion of the acquired acreage near JAPEX's existing Verdad assets, which it bought earlier this year. JAPEX expects the acquisition to contribute at least 1 billion yen in operating profit this fiscal year and about 15 billion yen annually from fiscal 2028, with Fundare having generated net income of $20.6 million in 2025. The transaction aligns with JAPEX's 2026-2035 management plan targeting production of 100,000 barrels of oil equivalent per day by fiscal 2031 and 180,000 by 2035, with the United States as a key hub for early earnings growth. The deal is scheduled to close in the fiscal third quarter ending March 2027, funded by cash flow and reserve-based lending.
Japan Petroleum Exploration Co., Ltd.Acquires Fundare for $320M, adding production and expected profit contributions.
Acquired by JAPEX at $320M, providing value realization for shareholders.
