Devon sells 30% of Texas Shale stake to Japanese firm

Sumitomo to pay $1.4 B for Devon Energy's Texas Shale stake..Okla o&G co Devon Energy Corp has sold a 30% stake in two Texas shale plays totalling roughly 650,000 acres to Japanese Conglomerate announced Wednesday.

I do not know which shale plays they sold off...but I do know that a Japanese firm owns 20% of Samson bought thru KKR.  BHP owns Petrohawk shale stake. 

How long will it be before most of shale is owned by foreign firms?  What does this mean for Shale lease holders? 

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Permalink Reply by little ole 1st grade teacher on August 4, 2012 at 12:12

I read where this was in the Permian Basin area of Texas.

Permalink Reply by little ole 1st grade teacher on August 4, 2012 at 12:13

Sumitomo Corporation signed an agreement with Devon Energy Corporation to participate for 30% in Devon's tight oil development project in the Permian Basin in Texas.

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