MidlandDirt: Chinese Company to Buy West Texas Oil Fields in $1.3 Billion Deal

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Chinese investment firm Yantai Xinchao Industry Co. is spending $1.3 billion to buy massive oil fields in the Permian Basin area of Texas. Photo: Paul Lowry via Creative Commons
Chinese investment firm Yantai Xinchao Industry Co. is spending $1.3 billion to buy massive oil fields in the Permian Basin area of Texas. Photo: Paul Lowry via Creative Commons

A Chinese investment firm has its sights set on West Texas as they declare their intent to spend $1.3 billion (8.3 billion yuan) to buy massive oil fields in Howard and Borden counties. This purchase is part of a trend of Chinese interest in U.S. energy resources.

Read the whole story over on MidlandDirt.com!

 

 

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Leah Shafer

Leah Shafer is a content and social media specialist, as well as a Dallas native, who lives in Richardson with her family. In her sixth-grade yearbook, Leah listed "interior designer" as her future profession. Now she writes about them, as well as all things real estate, for CandysDirt.com.

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