It's A Gas: Foreign Cos. Dig The US Shale Market

Law360, New York (May 20, 2011, 6:44 PM EDT) -- Foreign energy companies are increasingly forming joint ventures with U.S. shale gas drillers, not only to earn big money but also to gain the expertise necessary to develop shale resources back home, experts say.

The first major foreign player to enter the U.S. shale market was Norway-based Statoil, which in November 2008 paid nearly $3.4 billion for a 32.5 percent interest in Chesapeake Energy Corp.'s Marcellus Shale assets in the Northeastern U.S. Since then, companies like India's Reliance Industries Ltd., France's Total SA, state-owned Korea National...
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