China stakes claim to S. Texas oil, gas

Houston Chronicle ^ | 10/12/2010 | Monica Hatcher

[Rabin]

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.

[Rabin]

An adder to Ernest_at_the_Beach pick up of 10/11. "China National Offshore Oil Corp. and Norway’s Statoil ASA announced separate deals, both valued at more than $3 billion, to develop the Eagle Ford shale in southern Texas."

These guys are smart, tough, and all business. CNOOC has a pile of green backs to suck up languishing carbon assets and then just hold for as long as works best.

[FlingWingFlyer]

Let’s see the enviroloonies tell the Red Chinese what they can and can’t do.

[Viking2002]

Hell, they've told US what we can and can't do. Maybe the eunuchs pretending to be our standard bearers should watch how the ChiComms step on those hairy-legged pissants and ed-u-ma-cate themselves. I am so sick of these 21st Century pseudo-con pussies taking an imaginary high road while we get gang-raped.

"But know this, that in the last days perilous times will come: for men will be lovers of themselves, lovers of money, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, unloving, unforgiving, slanderers, without self-control, brutal, despisers of good, traitors, headstrong, haughty, lovers of pleasure rather than lovers of God, having a form of godliness but denying its power. And from such people turn away, for his name is Obama."

[NorwegianViking]

bump