Dart Energy sells China CBM project interest

A subsidiary of China Oil HBP Science & Technology Corp. Ltd. will buy the Chinese unit of Dart Energy Ltd., Brisbane, that holds a 50% interest in the Liulin coalbed methane production sharing contract in China for $20.8 million.

Dart Energy noted that it restructured earlier this year to focus on its shale and CBM acreage in the UK.

Operator Fortune Oil PLC and Dart Energy said last year that horizontal wells at the Liulin project in Shanxi Province are producing at commercial rates (OGJ Online, July 30, 2012).

After closing, expected in 2-3 months, the acquired interest in Liulin will reside with Hong Kong HuiHua Global Technology Ltd.

Completion is subject to satisfying customary conditions, including obtaining the approval of various Chinese government bodies. Dart Energy plans to pursue monetizing other international noncore assets.

Related Articles

Baker Hughes: US drilling rig count drops to 1,803

03/21/2014 After consecutive weeks of significant gains, the US drilling rig count lost 6 units to 1,803 rigs working during the week ended Mar. 21, Baker Hug...

Cenovus gets AER approval for Grand Rapids oil sands project

03/21/2014 Cenovus Energy Inc. reported that it has received approval from the Alberta Energy Regulator (AER) for its wholly owned Grand Rapids thermal oil sa...

Shell lets contracts for Majnoon development

03/18/2014 Shell Iraq Petroleum Development BV has let engineering and procurement services contracts to Foster Wheeler Kentz Energy Services DMCC, Dubai, for...

Ivanhoe halts Tamarack oil sands project citing lack of regulatory ‘clarity’

03/18/2014 Ivanhoe Energy Inc. has suspended activity on its Tamarack oil sands project pending approval for its thermal oil sands application from the govern...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected