Cnooc Taps US Expertise - Wall Street Journal

With its commitment to spend more than $2 billion developing hard-to-tap oil and gas deposits in southern Texas, China's Cnooc Ltd. could get the tools to unlock potentially lucrative energy deposits in its own backyard.

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Cnooc's deal with Chesapeake Energy Corp. to take a minority stake in the project also could provide a test of U.S. tolerance for Chinese investment in the U.S. energy sector, five years after Cnooc's bid for the former Unocal Corp. faltered over political concerns.

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Cnooc Taps US Expertise - Wall Street Journal