We're committed to upholding high ethical standards and focus on continual improvement.
Trust, innovation, communication, and leadership are all values that have been at the heart
of Mitsui's business management philosophy since the early 18th century, so it should come
as no surprise that Mitsui seeks to build its partnership upon a foundation of such values.
2010, when Mitsui saw the opportunity to invest in the onshore boom in shale gas production
occurring in the U.S., it knew that it would need to forge partnership with only the most
skilled and industry-savvy players in the field. At that time, besides being highly seasoned and
financially strong oil & gas operating companies, both Anadarko E&P Onshore LLC and
Chesapeake Appalachia LLC controlled multiple large swaths of leases throughout central and
northeastern Pennsylvania, all of which targeted development of the Marcellus Shale
formation. After successful negotiations, Mitsui was able to contractually gain entrance into
several joint development agreements Anadarko and Chesapeake already had in place. Mitsui
was then a full-fledged interest owner in Marcellus leases. Mitsui E&P USA LLC was established at the acquisition of the Marcellus shale asset, to develop a new phase of Mitsui's E&P business portfolio in North America.
Subsequently, through its new
connections and partners, Mitsui had the opportunity to enter into another shale venture, this
time in South Texas, targeting the Eagle Ford formation. In 2011, it closed on its joint
development agreement with Colorado-based SM Energy Company. The asset operator, Anadarko, sold its working interest to Sanchez Energy and Blackstone in 2017. SM Energy Company sold its working interest to KKR/Venado.
On the part of Marcellus, Anadarko divestest all of its Marcellus assets. Mitsui also divested its assets in the Anadarko-operated acreage to the same buyer, Alta Resources. The transactions of Mitsui were completed in June 2017.
Mitsui's solid and
healthy relationship with these partners and new partners has paved the way for its continued success in these
assets, and has made possible its presence and participation in America's historic shale gas