Japex Expands in Eagle Ford Shale Play

Japan Petroleum Exploration Co. (Japex) has bought additional stake in two shale oil acreages in Eagle Ford Shale play in South Texas.

In August 2012, Japex had bought a 5% working interest in the project and it has now bought an additional 50% working interest of an additional 200 acres. The company has also bought 5% interest of an additional 640 acres.

Marathon Oil is the operator of the existing lease and owns a 95 percent ownership stake. The additional acreage will be developed with Marathon Oil.

Japex expects that the technology and know-how gained through this project will be useful for its further study through a demonstration experiment for tight oil of the Onnagawa Formation in Akita prefecture in Japan.