December 19, 2025
Willkie is representing Peoria Resources, LLC in its acquisition of Verdad Resources Intermediate Holdings LLC (VRIH), the operator of tight oil and gas assets in Colorado and Wyoming, for ∼$1.3 billion.
On December 18, Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that it will acquire the entire equity interest in VRIH through an affiliate of Peoria Resources, its U.S. subsidiary. The VRIH assets currently produce around 35,000 barrels of oil equivalent per day of tight oil and gas, and JAPEX expects to increase production to approximately 50,000 around 2030.
Willkie previously advised Peoria Resources on its partnership with JAPEX, which included an equity commitment from JAPEX (U.S.) Corp., the overseas consolidated subsidiary of JAPEX. The investment established Peoria Resources to acquire and develop operated oil and natural gas assets in the U.S.
The Willkie team is led by partners Brad Honeycutt and Tan Lu with counsel Emerson W. Girardeau III and associate Braxton Smith. The team also includes partners Robert Jacobson, Scott Thompson, Thomas McCaffrey, Andrew Thomison, Britt Mosman, Jeffrey Clancy, Robert Lepore and Stuart Lombardi; counsel William Thomas, Jonathan Konoff, Britton Davis and Emily Monk; associates Kenneth Sommer, Ahmad El-Gamal, Amanda Payne, David Mohl, Garry Canepa, Joshua Nelson, Jacob Bell, Michael Fabiyi and Katerina Ganasoulis; and law clerk Akshara Anirjita.
On December 18, Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that it will acquire the entire equity interest in VRIH through an affiliate of Peoria Resources, its U.S. subsidiary. The VRIH assets currently produce around 35,000 barrels of oil equivalent per day of tight oil and gas, and JAPEX expects to increase production to approximately 50,000 around 2030.
Willkie previously advised Peoria Resources on its partnership with JAPEX, which included an equity commitment from JAPEX (U.S.) Corp., the overseas consolidated subsidiary of JAPEX. The investment established Peoria Resources to acquire and develop operated oil and natural gas assets in the U.S.
The Willkie team is led by partners Brad Honeycutt and Tan Lu with counsel Emerson W. Girardeau III and associate Braxton Smith. The team also includes partners Robert Jacobson, Scott Thompson, Thomas McCaffrey, Andrew Thomison, Britt Mosman, Jeffrey Clancy, Robert Lepore and Stuart Lombardi; counsel William Thomas, Jonathan Konoff, Britton Davis and Emily Monk; associates Kenneth Sommer, Ahmad El-Gamal, Amanda Payne, David Mohl, Garry Canepa, Joshua Nelson, Jacob Bell, Michael Fabiyi and Katerina Ganasoulis; and law clerk Akshara Anirjita.
