Japan Petroleum Exploration has revised upward its consolidated net profit forecast for the fiscal year ending March 2027, from the previous 60 billion yen to 65 billion yen, a 21.7 percent increase year-on-year. The company raised its revenue and operating profit forecasts, anticipating higher crude oil sales prices and increased sales volumes. It announced that through a US subsidiary it will acquire all equity interests in Fundare 4, which holds tight oil and gas assets in Colorado and Wyoming, for approximately 320 million US dollars. The acquisition is scheduled for the October to December 2026 quarter, and a contribution of around one-point-something billion yen to operating profit has been factored into the current fiscal year forecast. For the fiscal year ending March 2028, it expects a contribution of about 15 billion yen. The annual dividend forecast remains unchanged at 45 yen.
Japan Petroleum Exploration Co., Ltd.Raises full-year net profit forecast and acquires US tight oil assets, boosting expected profits.
Acquired by JAPEX for $320 million, providing an exit for shareholders.
