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China buying oil lands
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<blockquote data-quote="HDRider" data-source="post: 1663102" data-attributes="member: 17025"><p>On Sunday, China's Shandong Xinchao announced its decision to shell out $420 million to purchase oil-producing acreage from Grenadier Energy in the Texas Permian Basin.</p><p></p><p>Reading the sales announcement you'd never know it was to China.</p><p>[URL unfurl="true"]https://www.prnewswire.com/news-releases/surge-energy-america-announces-significant-midland-basin-acquisition-301218496.html[/URL]</p><p></p><p>The only clue is the CEO's name.</p><p>"This acquisition is consistent with our strategy of building a long-term, sustainable oil and gas company," stated Chief Executive Officer Linhua Guan. "The combination of both production and high-quality inventory support both near-term cash flow and strong economic returns for years to come."</p><p></p><p>I saw the news here</p><p>[URL unfurl="true"]https://pjmedia.com/news-and-politics/bryan-preston/2021/02/01/chinese-firm-shandong-xinchao-expands-its-foothold-in-texas-oil-rich-permian-basin-n1422253[/URL]</p></blockquote><p></p>
[QUOTE="HDRider, post: 1663102, member: 17025"] On Sunday, China’s Shandong Xinchao announced its decision to shell out $420 million to purchase oil-producing acreage from Grenadier Energy in the Texas Permian Basin. Reading the sales announcement you'd never know it was to China. [URL unfurl="true"]https://www.prnewswire.com/news-releases/surge-energy-america-announces-significant-midland-basin-acquisition-301218496.html[/URL] The only clue is the CEO's name. "This acquisition is consistent with our strategy of building a long-term, sustainable oil and gas company," stated Chief Executive Officer Linhua Guan. "The combination of both production and high-quality inventory support both near-term cash flow and strong economic returns for years to come." I saw the news here [URL unfurl="true"]https://pjmedia.com/news-and-politics/bryan-preston/2021/02/01/chinese-firm-shandong-xinchao-expands-its-foothold-in-texas-oil-rich-permian-basin-n1422253[/URL] [/QUOTE]
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