Posts Tagged ‘South texas oil fields’

I guess if we won’t develop them, China will, how sad of a state is that?  How the mighty have fallen…


China stakes claim to S. Texas oil, gas

HOUSTON — State-owned Chinese energy giant CNOOC is buying a multibillion-dollar stake in 600,000 acres of South Texas oil and gas fields, potentially testing the political waters for further expansion into U.S. energy reserves.

With the announcement Monday that it would pay up to $2.2 billion for a one-third stake in Chesapeake Energy assets, CNOOC lays claim to a share of properties that eventually could produce up to half a million barrels a day of oil equivalent.


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