JAPAX to invest $500m to develop southern U.S. tight oil interest

Japan Petroleum Exploration Co (1662.T) said on Friday its U.S. unit would invest about $500 million through 2024 to develop tight oil interests in the southern United States, with production due to start from the middle of this year.

The investments will be made under the wellbore interests it has acquired in Texas and Oklahoma, JAPEX said in a statement.