HOUSTON, TX, December 19, 2025 (EZ Newswire) -- Peoria Resources, LLC (“Peoria”), a subsidiary of JAPEX (U.S.) Corp. (“JUS”), the overseas consolidated subsidiary of Japan Petroleum Exploration Co. Ltd. (“JAPEX”), today announced the signing of a Membership Interest Purchase Agreement (“MIPA”) to acquire the operated oil and gas business of Verdad Resources Intermediate Holdings, LLC (“Verdad”) in the Colorado DJ Basin. The signing of the MIPA with Verdad is aligned with Peoria’s strategy to acquire operated assets and leasehold acquisitions across the lower 48.

“We are excited to enter into this agreement to acquire an asset within the DJ Basin which provides size, scale, substantial operated inventory, best-in-class margins and access to premium markets. Acquisition of this top tier asset which includes 101,000 net acres and stacked pay development potential aligns with our strategy to build a healthy, scalable operated oil and gas business, employing top notch staff who deliver quality choices for cash flow and additional equity investment across both short and long-term horizons,” said Greg West, Peoria’s Chief Executive Officer.

“Peoria and JUS partnered earlier this year to pursue the acquisition of operated U.S. onshore oil and gas assets. This acquisition represents a key milestone in that partnership and establishes a strong foundation for continued investment in the U.S. onshore oil and gas sector,” added David Kita, Peoria’s Chief Technical Officer.