Inpex divests US tight oil development
Japanese energy company Inpex has sold its subsidiary Inpex Eagle Ford to Repsol Oil & Gas USA, a subsidiary of Spain’s Repsol, it said on February 1 without providing any financial details. Through Inpex Eagle Ford, Inpex conducted all its tight oil development and production activities in the Eagle Ford play in Texas in the US.
Prior to the divestment, Inpex held multiple tight oil development and production assets in the area through its subsidiary, Inpex Americas, and was engaged in the development, production and marketing of tight oil as the operator of most of the project since acquiring the project in April 2019.
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Inpex said its decision to divest is mainly to optimise its global asset portfolio. The impact of this matter on the consolidated financial results is minimal, it added.