Thursday, December 3, 2015




Chinese Property Developer Snaps Up 

Texas Oil Fields


An oil well owned and operated by Apache Corp. in the Permian Basin in Garden City, Texas, in February.

PHOTO: SPENCER PLATT/GETTY IMAGES



BEIJING—A little-known Chinese real-estate developer says it is scooping up oil assets in West Texas as part of a billion-dollar deal that underscores China’s keen interest in the U.S. energy patch.
Shanghai-listed Yantai Xinchao Industry Co. said in a securities filing Saturday that it was acquiring oil properties in West Texas as part of a deal to buy an investment company called Ningbo Dingliang Huitong Equity Investment Center. Yantai Xinchao valued the overall deal at 8.3 billion yuan ($1.3 billion).
Por BRIAN SPEGELE

READ MORE AT







http://www.wsj.com/articles/chinese-property-developer-snaps-up-texas-oil-fields-1445773022