According to the agreement, Mitsui will acquire 12.5 percent working interest in the Eagle Ford Shale acreage by paying 90 percent of SM Energy's drilling and completion costs on the acreage, up to $680 million. Additionally, Mitsui is paying between $20 and $30 million for a 50 percent interest in SM's midstream assets in the region.Even if current US administration doesn't see value in America's energy potential, China and Japan do.
Thursday, June 30, 2011
Japanese Mitsui Buys (Again) Into Eagle Ford -- Partners With SM -- Deal Worth $680 Million
Link here.
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