CALGARY, Alberta (AP) — Encana Corp. and a subsidiary of China's state-owned PetroChina have entered into a joint venture agreement to explore and develop shale natural gas in Alberta.
Encana said Thursday that the PetroChina subsidiary, Phoenix Duvernay Gas, will invest US$2.21 billion for a 49.9 percent interest in about 445,000 acres (180,000 hectares) Encana has in the emerging Duvernay formation.
Encana will remain the operator of the Duvernay joint venture, which will see the partners together spend $4.06 billion on drilling, completion and processing facilities over the next four years.
Last week, Canada approved another Chinese company's US$15.3 billion takeover of Calgary-based Nexen Inc., but it said future acquisitions of oil sands producers will only be allowed under exceptional circumstances from now on.
Wyo., ND Governors To EPA: Hey, We Need More Time On Clean Power Plan Regulations Because You Totally ‘Blindsided’ Us | Matt Vespa
House Democrats Will Try To Dissolve Select Committee On Benghazi Tonight UPDATE: Voted Down, Committee Remains | Matt Vespa
Ted Cruz finds a question that the Sierra Club DARED not answer. | RedState
Second data storage firm emerges with possible cloud backups of Hillary Clinton's emails - twitchy.com
Homeowner Stops Three Robbers By Pleading For Mercy. Just Kidding. He Shot Them. - Bearing Arms - Guns Saving Lives, Texas
Why Conservatives Elected to Congress Turn Into Moderates | Human Events
Plane Taking Off
The truth about gun deaths: numbers and actual solutions
Thomas Sowell - Charlatans and Sheep