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Montevideo, March 28th 2024 - 13:24 UTC

Tag: DVN

  • Wednesday, January 4th 2012 - 06:09 UTC

    China’s Sinopec buys stake in five shale projects in the US

    Devon CEO John Richels said plan includes drilling 125 wells

    Devon Energy Corp announced Tuesday the sale to China’s Sinopec of a one-third stake in five shale projects in the United States. The terms of the deal call for China’s No. 2 oil company to pay 900 million dollars in cash to the US firm and contribute 1.6 billion toward the cost of drilling.