Sinopec, Devon, $2.2 billion.
Devon Energy Corp said on Tuesday China's Sinopec will invest $2.2 billion for a third of the U.S. oil and natural gas producer's interest in five developing fields as part of a long-term partnership.
Foreign companies like Sinopec, hungry for the know-how to produce oil and gas from shale and other unconventional basins, have invested heavily in North American acreage. Chesapeake Energy announced a similar $2.3 billion deal on Tuesday with French oil company Total SA.
Sinopec is bank rolling the wells Chesapeak is drilling south of dickinson.. got this from a very reliable source..no wonder they are taking a risk drilling wildcats in that area.. i would to
ReplyDeleteMakes sense. As noted in the linked articles, they will also gain a lot of insight into drilling horizontal wells and fracking.
ReplyDeleteyep,yep, been on site on one of the wells i have a interest in, a few of the folks hanging around there don't look Irish to me. pretty tight liped who the visitors are
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