Tokyo Gas Buys 70% in Chevron’s Haynesville Natural Gas Assets ...Middle East

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Tokyo Gas Buys 70% in Chevron’s Haynesville Natural Gas Assets
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TG Natural Resources has agreed to buy 70% of Chevron’s natural gas assets in East Texas for $525 million, as the company indirectly owned by Japan’s Tokyo Gas and Castleton Commodities International expands its footprint in the Haynesville shale gas play. Of the $525 million price of the deal, TG Natural Resources (TGNR) is paying $75 million in cash, while the remainder $450 million would be paid as a capital carry to fund Haynesville development, prior to customary adjustments, TG Natural Resources said in a statement. The transaction…

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