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