Osaka Gas has entered into a definitive agreement with Sabine Oil & Gas Holdings to acquire 100 percent of the outstanding shares of its subsidiary, Sabine Oil & Gas Corp. As this acquisition has enhanced Osaka Gas’ energy business portfolio in North America, the company intends to continue developing its three U.S. core businesses, consisting of the Freeport LNG liquefaction project, IPP projects and Sabine’s shale gas project.

Sabine holds acreage in East Texas in Harrison, Panola, Rusk and Upshur counties, among others, totaling 175,000 net acres, which is producing shale gas in the amount of 210 million cubic feet equivalent per day with approximately 1,200 wells at present. This acquisition of outstanding shares has given Osaka Gas the entire acreage position of Sabine.

For more information, visit www.osakagas.co.jp/en.