Foreign entities gobbling up oil/gas deals
Why do you think these companies do it? The many number of deals where foreign (outside USA) companies buy deals from E&P companies, providing the seller a cash and carry. Chinese, Indian, British, Japanese, etc.
I can see how some would do it to gain expertise so they could learn how to produce unconventionals in their native country. But do you think any of them do it just for making money? Is profit enough incentive to get these big companies to pony up?
I was looking at CHK's latest presentation and thinking of all the wheeling and dealing they have done. Impressive! As much as we (many of us) love to hate CHK, my gosh, they have an unbelievable asset base. I do NOT like CHK but, no doubt, Aubrey has amassed a bazillion acres. No telling how many tens of thousands of wells CHK could drill on this acreage. It's mind-blowing. A few million acres here, a few million there.
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Replies to This Discussion
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Permalink Reply by Hopeful About Natural Gas on -
That's a conspiracy theory that could come true. I recall how 30 years ago Nelson Bunker Hunt cornered the silver market (briefly) I can see a government or group seeking to control these commodities and the knowledge base that produced them.
However, buying it and getting it back to China (or where ever) are two entirely different things. Korea has bought a lot of coal from the US and now towns around the NW are protesting the "coal trains".
Oregon's governor (a doctor) is opposing the trains through Oregon as a health and safety hazard. I dislike coal, but if people did buy the coal (or whatever) with the expectation that it would be shipped to them under our existing laws then I think we could have a big international trade problem if we did not honor those shipments.
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Permalink Reply by adubu on
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HANG--I don't think it's a conspiracy theory--It's a Fact China is buying up companies with their assets for future needs of their country. They need the energy to continue to develop their economy in future years. It would be difficult to stop someone from shipping what they own elsewhere
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Permalink Reply by tc on
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You do know that it is illegal to ship U.S. produced oil to a foreign country.
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Permalink Reply by MLE on -
TC, that is the dumbest thing I've read on this site, and that says a lot.
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Permalink Reply by Todd Hackney on
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It is not illegal to export to crude oil from the U.S., but exports do require Commerce Department approval and are highly restricted.
http://realmoney.thestreet.com/articles/07/11/2012/lets-discuss-cru...
We currently export a small amount of Crude Oil to Canada due to the location of the closest refinery in that area.
Crude Oil Exports by destination:
http://www.eia.gov/dnav/pet/pet_move_expc_a_EPC0_EEX_mbblpd_m.htm
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Permalink Reply by RONNY on
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The Chinese are looking to unload some t-bills for something a little safer.
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Permalink Reply by dingojoe on
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Platts has an article basically saying that the NG companies took their money but have blocked them from learning about fracking. Sounds plausible (never trust an oilman/gasman) which means they won't be getting any more money from these foreign entities. Maybe they've got something else lined up, or maybe not.
https://www.platts.com/LatestNewsHeadlines
The article is on the front page, but it may require registration to read.
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I can't comprehend how the joint venture companies could sign such an agreement if they are doing it to gain technology. That doesn't make sense. As structured, it appears that profit potential would be the sole reason for funding.
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