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A&D - Japan’s Osaka to buy E. Texas driller Sabine for $610MM - August 2019
One of Japan’s largest LNG importers, Osaka Gas, is buying privately held Sabine Oil & Gas for $610 million, marking the first Japanese purchase of a US shale gas developer. The acquisition is part of Osaka’s long-term strategy to boost overseas earnings to make up one-third of its total profit by 2030, up from the current 9%. Sabine emerged from bankruptcy in August 2016 with a focus on East Texas horizontal development. Sabine owns 175,000 net acres, of which it operates......
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