Deal adds 9,500 boe/d production and aligns with JAPEX’s 2035 target of 180,000 boe/d from overseas assets.
Japan Petroleum Exploration Co. (JAPEX) will purchase U.S. tight oil and gas producer Fundare for $320 million, expanding its footprint in Colorado and Wyoming. The acquisition includes assets producing 9,500 barrels of oil equivalent per day as of Q1 2026.
The deal follows JAPEX’s $1.3 billion Verdad acquisition earlier this year and supports its 2026-2035 plan to grow overseas production. Fundare reported $20.6 million in net income for 2025, per transaction disclosures. Proximity to existing Verdad assets is expected to drive cost synergies.
JAPEX aims to increase total production to 100,000 boe/d by 2031 and 180,000 boe/d by 2035, with U.S. operations as a key growth driver.