Chinese Company Searching for Billion-Dollar Oil Deals in TexasBy
Xinchao seeking assets where it will dictate drilling schedule
U.S. unit Blue Whale looks for opportunities in the Permian
China’s Yantai Xinchao Industry Co. is pursuing U.S. oil acquisitions worth as much as $1 billion in the Permian Basin, and it won’t be satisfied letting others run the show, according to the head of the company’s U.S. subsidiary.
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