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  • Cnooc, Statoil wade into Eagle Ford shale ( NG and Oil--China and Norway Companies in Texas)

    10/11/2010 12:40:50 PM PDT · by Ernest_at_the_Beach · 24 replies · 1+ views
    MarketWatch ^ | Oct. 11, 2010, 10:16 a.m. EDT | Steve Gelsi, MarketWatch
    South Texas region draws third big investment in a weekNEW YORK (MarketWatch) — China National Offshore Oil Corp. and Norway’s Statoil ASA announced separate deals, both valued at more than $2 billion, to develop the Eagle Ford shale in south Texas. Statoil said Monday it would team up with Canada-based Talisman Energy Inc. to buy acreage in the Eagle Ford shale. Statoil and Talisman formed a joint venture to purchase assets from Enduring Resources LLC for $1.33 billion. Statoil will also pay $180 million for additional acreage. Statoil’s share of the two transactions will cost $843 million. Late Sunday, Cnooc...