Tokyo Gas Nears $4.6 Billion Deal to Buy US Shale Driller
- Unit of Japan-based company to purchase Rockcliff Energy
- This is latest move by Asian firm to secure gas supply
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A Tokyo Gas Co. unit is in advanced talks to buy US natural gas producer Rockcliff Energy in a deal worth about $4.6 billion, including debt, a person with knowledge of the matter said.
Houston-based TG Natural Resources, which is majority-owned by Tokyo Gas, is discussing purchasing Rockcliff from private equity firm Quantum Energy Partners, said the person, who requested anonymity discussing confidential information. An all-cash deal could be announced as soon as this month, though it’s possible — as with all deals that aren’t finalized — that terms change or talks collapse.