Tokyo Gas, through it's majority-owned subsidiary TG Natural Resources (TGNR), a partnership with Castleton Commodites, has announced the purchase of Rockcliff Energy, for $2.7B. This acquisition brings 200,000 net acres and 1.3 Bcf/d of East Texas Haynesville natural gas production and a large position as a driller and operator to TGNR. This is not Tokyo Gas's first foray into the US upstream business, however, it is an attention-grabber. TGNR is an established non-operated investor in the Haynesville and Cotton Valley, with over 188,000 net acres and 330 mmcf/d production prior to the Rockcliff acquisition. The map below shows the existing TGNR acreage in red and the acquired Rockcliff acreage in blue.
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